Honda announced it will invest $98 million at its Anna, Ohio, engine plant in order to build pulley components for its continously variable transmissions (CVT).
The CVTs are included in Honda’s next-generation powertrain technologies aimed at boosting performance and fuel efficiency. Production of the pulley components at the Anna plant is scheduled to start in 2013.
“The production of this new CVT technology puts the Buckeye State right in the middle of Honda’s global strategy,” Hide Iwata, CEO of Honda of America Manufacturing, was quoted as saying by Automotive News.
The investment in the Anna plant comes after Honda’s announcement last year that it would invest $120 million in its plant in Russells Point, Ohio, where the Japanese carmaker will begin making the CVT this summer.
Honda will create a combined 150 new jobs after the modernization and expansion of the Russells Point transmission plant and the new pulley component production at Anna. Since November 2010, Honda has announced more than $500 million in investments for advanced technologies and systems at its four plants in Ohio. In January, Honda said it will develop the all-new Acura NSX sports car in Ohio and will build it at a new manufacturing plant in central Ohio.