![]() The EV batteries produced at the new JV plant will be provided to Honda auto plants to produce EVs to be sold in North America. Honda already has announced plans to begin production* and sales of Honda EVs in North America in 2026, based on its new Honda e:Architecture. The plant aims to have approximately 40GWh of annual production capacity as it starts mass production of pouch-type lithium-ion batteries by the end of 2025. The two companies plan to begin construction in early 2023, in order to complete the new production facility by the end of 2024. The joint venture between Honda and LGES will be formally established in 2022, pending regulatory approvals. The companies’ overall investment related to the JV is projected to reach $4.4 billion. Honda and LG Energy Solution (LGES KRX: 373220) today announced that their new joint venture (JV) battery plant will be located in Fayette County, Ohio, about 40 miles southwest of Columbus, where the two companies will commit to investing $3.5 billion and creating 2,200 jobs, pending final government approvals. EV batteries produced at JV plant to be provided to Honda plants for EV production. ![]() New joint venture company to produce battery modules in Fayette County, Ohio.
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