Honda Motor Co., Ltd. is considering a new hybrid vehicle plant in Ohio with an investment of 300 billion yen to 400 billion yen, or about $1.90 billion to $2.53 billion, Nikkei reported. Production could begin in 2030, but Honda said no decision has been made regarding a new U.S. plant. The project depends in part on the future of the United States-Mexico-Canada Agreement, which the Trump administration is negotiating with Canada and Mexico. Honda Executive Vice President Noriya Kaihara said North American factories are nearing full capacity and that the automaker needs additional production, but the company may change course if USMCA is not extended. Honda suspended its $11 billion Canada electric-vehicle project indefinitely this year and canceled three planned EVs for the U.S. market. The potential Ohio investment follows Honda's decision last year to shift production of its U.S.-bound five-door Civic hybrid from Japan to Indiana. The proposal remains subject to negotiations over state subsidies and would represent Honda's first new North American factory in nearly 20 years if approved.