Honda, LG to invest $4.4bn in US battery plant

Honda and LG Energy Solution expect construction of the plant to begin next year.TOKYO - Japanese auto giant Honda and South Korean battery maker LG Energy Solution announced a joint venture Monday to invest $4.4-billion in a new US electric car battery plant.

In a joint statement, the firms said they expected construction of the plant to begin next year, aiming for"mass production of advanced lithium-ion battery cells by the end of 2025". Last month, Japanese electronics giant and Tesla supplier Panasonic announced its own $4-billion investment to build a new battery factory in the United States for electric vehicles.

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