Honda and LG to build e-vehicle battery factory in Ohio

Honda and LG to build e-vehicle battery factory in Ohio

New York, Sep 5, 2022

Honda Motor and LG Energy Solutions announced plans to invest $4.4 billion to build an electric vehicle battery factory in Ohio. It is the latest collaboration between an automaker and a battery maker to boost U.S. production and share costs as electric vehicle sales continue to rise.

The plant is expected to mass-produce advanced lithium-ion battery cells starting in late 2025. Annual production capacity will be about 40 gigawatt-hours. The batteries will be supplied to Honda’s North American plants to power Honda and Acura electric vehicles.

Honda and LG Energy will build and operate the plant as part of a future joint venture. The exact location was not disclosed. Honda also has a large car plant in Ohio, near Marysville, and plants in Alabama and Indiana.

Honda plans to introduce 30 electric car models and produce 2 million electric cars a year by 2030.