Honda Motor Co. Ltd. (HMC - Get Report) will add 300 new jobs and invest $267 million in ramping up production of a new and improved 2018 Honda Accord sedan, the company said Monday, according to Reuters.

The new model will be made at Honda's Marysville, Ohio, production plant. The Japanese automaker said $220 million of the investment is in the plant itself, adding a new $165 million welding department with 342 robots. Honda is also putting $47 million in at its Anna, Ohio, plant to produce turbocharged engines for the new Accord.

Following the investment, the Marysville plant will have a capacity of 440,000 units per year with room to add more production if necessary, according to Honda Accord manufacturing leader Steve Rodriguez.

Much like rival Toyota Motor Corp's (TM - Get Report) Camry model, the Honda Accord has more horsepower, better fuel efficiency and safety features including automatic braking.

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