Honda and LG Energy Solutions announce a joint venture to build a new 40 GWh battery plant located an hour south of Honda’s own R&D center in Ohio in 2023.
of full electrification for their U.S. models, the Japanese automaker needed a battery plant local to their facilities. Now, LG Energy Solutions and Honda have formed a joint venture to build a battery plant just an hour south of their R&D center in Raymond, Ohio, to supply Honda with the batteries it needs for its future BEV models, likeLG and Honda have reached an agreement to build a new battery plant in Fayette County. Each company is investing $3.
The construction of the facility should begin in early 2023, and if everything stays on schedule, the plant will be completed in 2024. By 2025, it should build around 40 GWh of battery capacity annually of lithium-ion pouch-type cells. That's around the timeframe of when Honda will begin producing and selling its own electric vehicles for the U.S.with an eye towards recent EV tax credit changes and increased domestic parts content and manufacturing requirements.
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