Honda and LG Energy Solution to build joint venture battery plant in Ohio

Honda and LG Energy Remedy have announced that their new joint enterprise battery plant will be positioned in Fayette County, Ohio, which will see the two businesses investing $3.5 billion and make 2,200 employment. The companies’ overall financial commitment is projected to access $4.4 billion.

The two organizations program to get started building on the new plant in early 2023, with the strategy to entire manufacturing by the close of 2024. The plant aims to have roughly 40GWh of yearly output capacity as it starts off mass output of pouch-type lithium-ion batteries by the close of 2025.

Honda options to start out making EVs based mostly on its new Honda e:Architecture in 2026.

“In another main move toward electrification, LG Energy Solution’s ground breaking battery systems will not only electrical power Honda’s model-new EV designs but aid Ohio’s inexperienced financial system. We increase our gratitude to everybody who played a purpose in making this come about,” claimed Dong-Myung Kim, Govt Vice President of Advanced Automotive Battery Division at LG Energy Resolution. “With our motivation to developing the planet-finest high quality merchandise, together with Honda, we appear forward to not only producing countless numbers of excellent positions in this article in Ohio, but developing collectively with the neighborhood.”

“Honda is very pleased of our record in Ohio, where our U.S. manufacturing functions began a lot more than four many years back. Now, as we extend Honda’s partnership with Ohio, we are investing in a workforce that will make the energy supply for our potential Honda and Acura electric powered vehicles,” mentioned Bob Nelson, government vice president of American Honda Motor Co., Inc. 

Although the new EVs won’t get there until finally 2026, Honda is presently working on an electric powered crossover, called the Prologue that will arrive in 2024.

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