In February, Honda and South Korea-based battery maker LG Energy Solution held a groundbreaking ceremony for a new joint-venture EV battery plant near Jeffersonville, Ohio.
The companies say they have committed $3.5 billion to the project, and overall investment is projected to reach $4.4 billion. Plans call for the facility’s completion by the end of 2024 and the start of mass production of pouch-type lithium-ion batteries by the end of 2025. The target is an annual production capacity of approximately 40 GWh.
The automaker also announced plans to invest $700 million in retooling several existing auto and powertrain plants in Ohio for production of EVs using batteries made at the new facility, and to begin production and sales of Honda EVs in North America in 2026.