Honda and LG to Build $4.4 Billion EV Battery Plant in US
TORRANCE, CA—Honda and South Korean battery maker LG Energy Solution will spend $4.4 billion to build a new battery assembly plant in the United States as the Japanese carmaker seeks to phase out fossil-fuel vehicles completely by 2040.
The factory will be able to assemble enough batteries each year to produce 40 gigawatt-hours of energy. Construction is expected to start by early 2023, and mass production slated to start at the end of 2025. The location of the plant has not yet been decided, but Ohio is considered the front-runner.