Honda is the latest of the established automakers to announce plans to construct a battery plant in the U.S. to power future electric vehicles, joining the likes of Ford, General Motors, Hyundai Motor Group, Mercedes-Benz, Stellantis, and fellow Japanese automaker Toyota.
Honda on Monday said it will partner with LG Energy Solution to establish a joint venture to oversee production of batteries at a new U.S. plant whose location is yet to be confirmed. The two companies will invest a total $4.4 billion in the plant which will have an annual capacity of 40 gwh. Construction of the plant will start in early 2023 and the first batteries should be in production by the end of 2025.
The plant will produce pouch-type cells for lithium-ion batteries to be supplied exclusively to Honda's North American vehicle plants. Honda said the batteries will end up in both Honda and Acura EVs.
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