Jaclyn Trop of TechCrunch reports that Honda and LG Energy will build a $4.4 billion lithium-ion plant in the US.
- While a location has yet to be announced, Honda expects to break ground on a factory in 2023 and mass produce batteries in 2025.
- The factory will accelerate Honda and Acura’s push into the EV space.
- Battery manufacturing has come stateside with Panasonic recently announcing the construction of a new battery plant in Oklahoma and Toyota getting set to produce batteries at a new facility in North Carolina.
“The automaker said Monday it is forming a joint venture with LG Energy Solutions to supply the North American market with ‘pouch type’ batteries to power electric vehicles from its Honda and Acura brands. A location for the $4.4 billion factory has not been announced.”
Read the full article here.