Honda and LG Energy Joint Venture for New EV Plant in Ohio

By Utility Dive: “Honda and battery maker LG Energy Solution picked Fayette County, Ohio, as the site of their planned battery plant to support Honda and Acura electric vehicle production, the companies announced Tuesday.

The companies will initially commit to investing $3.5 billion in the facility but project total investment to reach $4.4 billion, according to the release. Construction is slated to begin in early 2023, in an effort to mass produce lithium-ion batteries by the end of 2025.

The investment is part of a joint venture with LG Energy Solution, which is pending regulatory approval. Honda partnered with the battery maker after announcing in April it was looking to establish a battery plant near a planned EV production line in North America.”

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