Honda, like Toyota, has suffered through a lot in the past year — sluggish sales, the Japanese tsunami and earthquake, and floods in Thailand. But it’s vowing to get its mojo back and plans to do so by revving up its American production.
This morning, Honda said it will invest $98 million at its engine plant in Anna, Ohio, the one you’ve probably driven by Interstate 75. The investment comes on top of a $120 million investment at Honda’s transmission plant in Russells Point, Ohio.
The money is going to build a new engine and transmission family called “Earth Dreams.” The transmission plant will make what are called Continuously Varying Transmissions, or CVTs, which don’t have gears but shift up and down smoothly, and the engine plant will produce parts for those transmissions. Continue reading