Honda, LG Energy Solution Plan for U.S. Lithium Ion Plant
Aug. 30, 2022—Honda has announced plans to establish a new lithium-ion battery plant in the United States.
According to Reuters, Honda will work with Korean battery supplier LG Energy Solution Ltd. The companies shared a statement announcing this project that outlined a $4.4 billion investment.
The batteries made at this plant will be supplied to Honda facilities in North America for Honda and Acura electric vehicles. Although an exact location has not yet been specified, the Reuters article shared that Nikkei business daily reported that Ohio is a contender.
A joint venture prior to the facility's construction is anticipated between Honda and LG Energy Solution Ltd. Construction is currently planned to begin in early 2023. Mass production is anticipated by the end of 2025.
The Reuters article reported that the projected annual production capacity for this facility is anticipated to be around 40 GWh.