Honda And LG Announce $4.4 Billion Battery Plant In The US | Carscoops carscoops
Honda and LG announced that their new joint venture will be established in 2022, although the exact location of the plant in the US hasn’t been finalized yet. We expect to learn more about it soon, since construction is scheduled to start in early 2023. If everything goes according to plan, the production of lithium-ion battery cells will commence in late 2025.
Following the agreement, Youngsoo Kwon, CEO of LG Energy Solution, said: “Our joint venture with Honda, which has a significant brand reputation, is yet another milestone in our mid-to-long-term strategy of promoting electrification in the fast-growing North American market”, while Toshihiro Mibe, President, CEO and Representative Director of Honda, added that the automaker “is committed to the local procurement of EV batteries”.
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