From Renewable Energy World
LG Energy Solution and Honda Motor Co. said they plan to invest $4.4 billion to set up U.S. manufacturing to jointly produce lithium-ion batteries to power Honda and Acura EV models for the North American market.
The partners aim to have an annual production capacity at the plant of around 40 GWh.
The pouch-type batteries will be supplied exclusively to Honda facilities in North America. The location of the plant is not yet final. The companies said they aim to start construction in early 2023 with a goal of starting mass production by the end of 2025.
In April 2021, Honda announced plans for 40% of its North American sales to be battery-electric and fuel cell electric vehicles by 2030, increasing to 80% by 2035, and to 100% by 2040. Honda has been producing cars in the U.S. for 40 years and currently operates 18 manufacturing facilities in North America.
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