LG Energy Solution to build joint EV battery plant with Japan's Honda Motor

LG Energy Solution-Honda JV

LG Energy Solution to build joint EV battery plant with Japan's Honda Motor

SEOUL, Aug. 29 (Yonhap) -- South Korean battery maker LG Energy Solution Ltd. (LGES) said Monday it is joining hands with Japan's Honda Motor Co. to build an electric vehicle battery plant in the United States.

The two companies signed the binding agreement for the 5.1 trillion-won (US$4.4 billion) joint venture to build the production facility with an annual capacity of 40 gigawatt hours, LGES said in a release.

The signing event took place in Seoul earlier in the day, attended by LGES CEO Kwon Young-soo and Honda CEO Toshihiro Mibe.

The location of the plant has yet to be decided.

The plant will manufacture pouch battery cells and modules starting late 2025, and the output from the plant will be mainly supplied for Honda's premium Acura EV models, LGES said.

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