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Honda and LG Energy plan to build a $4.4 billion lithium-ion plant in the US

Jaclyn Trop of TechCrunch reports that Honda and LG Energy will build a $4.4 billion lithium-ion plant in the US.

The C3 Take
  • 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.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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