LG Energy Solution and Honda Break Ground for New Joint Venture EV Battery Plant in Ohio
Honda and LG Energy Solution have committed to invest $3.5 billion in the new joint venture (JV) facility, with their overall investment projected to reach $4.4 billion. The facility is scheduled to be completed by the end of 2024, with plans to create 2,200 jobs, and the aim for approximately 40GWh of annual production capacity. The JV company will deliver lithium-ion batteries with cutting-edge technology to support Honda's plan to build battery-electric vehicles (EV) in North America.