Honda, LG Energy to build EV battery plant in US

AUG 29, 2022

Honda as well as LG Energy Solution jointly announced today that they have signed an agreement to create an Joint Venture company.

In 2022, to manufacture lithium-ion electric batteries within the US.

The two companies plan to invest $4.4 billion into the joint venture's battery gigafactory.

That will have a capacity of 40 GWh pouch-type cells. This is equivalent to 400 battery packs, each with 100 kWh per.

The JV batteries will be exclusively used in the coming Honda as well as Acura electric vehicle.

Models that will be sold in market in the North American market.

The location of the gigafactory's new location is not yet finalized.

We have that the construction dates are set to begin (early 2023) and the mass production (by 2025's end).

This implies that the speculations from the beginning of January 2022 were near to the truth at the very least, about 40 GWh per year.

If You Like Our Web Stories Please Make Sure To Share, With Your Friends

Feel free to share, if you find this web stories useful!