Honda, LG Energy Plan $4.4 Billion EV Battery Factory in U.S.

by | Aug 29, 2022 | Business

TOKYO—Honda Motor and LG Energy Solution said Monday they plan to build a $4.4 billion electric-vehicle battery factory in the U.S., the latest tie-up between auto makers and battery suppliers seeking to expand capacity by sharing upfront costs.The companies said they plan to begin construction of the factory early next year and start mass production by the end of 2025. The factory is planned for Ohio, the same state as Honda’s longstanding auto plant in Marysville, people familiar with the matter said. The companies didn’t name the location.

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