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  4. Honda, LG Ohio investments to receive $71 million state tax credit
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Honda, LG Ohio investments to receive $71 million state tax credit

By David Shepardson (Reuters) - The state of Ohio said on Wednesday it plans to provide $71.3 million in tax credits for a new Honda Motor Co Ltd and LG Energy Solution joint...
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Honda, LG Ohio investments to receive $71 million state tax credit © Reuters. FILE PHOTO: A Honda Motor logo in Kawasaki, south of Tokyo September 18, 2011. REUTERS/Yuriko Nakao

By David Shepardson

(Reuters) - The state of Ohio said on Wednesday it plans to provide $71.3 million in tax credits for a new Honda Motor Co Ltd and LG Energy Solution joint venture battery plant.

On Tuesday, the companies announced they were committing to invest $3.5 billion and creating 2,200 jobs, but said the overall investment is projected to reach $4.4 billion. Honda separately is investing $700 million and adding 300 jobs to retool three Ohio plants to build EVs and parts.

The Ohio Department of Development said the 30-year Job Creation Tax Credit is performance-based and the company must fulfill its job creation and payroll commitments to receive the credit.

The department said it is also working with the Ohio state legislature "to invest $85 million in local water and transportation infrastructure upgrades to ensure the success of the project and benefit the local communities."

It's not clear what local tax incentives the investments will receive.

The U.S. Congress in August approved billions of dollars in tax incentives and grants for automakers to encourage increased production of EVs and batteries in the United States. It also approved new consumer tax credits to incentivize North American battery and EV production.

The two companies plan to begin construction in early 2023 and aim to complete the new facility about 40 miles (64 km)southwest of Columbus, Ohio, by the end of 2024.

The plant aims to have approximately 40GWh of annual capacity as it starts mass production of lithium-ion batteries by the end of 2025.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

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GBP/USD

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AUD/USD

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
(0/ 0) # 1,510
SJC 1c, 2c, 5c7,380/ 7,550
(0/ 0) # 540
SJC 0,5c7,380/ 7,560
(0/ 0) # 550
SJC 99,99%7,370/ 7,470
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SJC 99%7,196/ 7,396
(0/ 0) # 386
Cập nhật 01-05-2024 10:45:19
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ↀ Giá vàng thế giới
$2,285.72 -47.5 -2.04%
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Sản phẩm Vùng 1 Vùng 2
RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
DO 0,001S-V21.32021.740
Dầu hỏa 2-K20.68021.090
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WTI $80.83 +3.39 0.04%
Brent $85.50 +3.86 0.05%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
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EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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