The plant’s site is still undecided, but construction will begin in early 2023, with mass production of advanced lithium-ion battery cells to start by the end of 2025.
The logo of Honda Motor Co., is seen in Yokohama, near Tokyo on Dec. 15, 2021. Major South Korean battery maker LG and Japanese automaker Honda are investing $4.4 billion in a joint venture in the United States to produce batteries for Honda electric vehicles in the North American market, the two companies said Monday, Aug. 29, 2022. – Major South Korean battery maker LG and Japanese automaker Honda are investing $4.
The joint venture is to be set up this year, with the closing of the deal subject to regulatory approval. Honda's joint venture plant is part of a larger trend of automakers announcing U.S. battery factories as they try to establish a domestic supply chain for the next generation of vehicle propulsion. Ford, General Motors, Toyota, Hyundai-Kia, Stellantis and VinFast have announced plans for 10 U.S. battery plants.
“Honda is working toward our target to realize carbon neutrality for all products and corporate activities the company is involved in by 2050,” said Honda Chief Executive Toshihiro Mibe.LG, a leading manufacturer of lithium-ion batteries for electric vehicles and power systems, already makes them in joint ventures with U.S. automakers General Motors and Ford Motor Co., as well as South Korea’s Hyundai Motor Group.
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