Photo: Honda
Honda will be teaming up with LG Energy Solution to produce lithium-ion batteries in the United States for both Honda and Acura models aimed at the North American market. The two companies will invest a total of $4.4 billion to establish a new plant in the U.S. - one that will have an annual production capacity of roughly 40GWh.
These pouch-type batteries will be supplied exclusively to Honda facilities in North America. As for the location of this joint venture plant, that’s yet to be determined. However, the two companies are aiming to begin construction in early 2023 so as to enable mass production of advanced lithium-ion battery cells by the end of 2025.
Both LGES and Honda believe that expanding local EV production and ensuring a timely supply of batteries would help them keep up with the rapidly growing North American EV market.
“Our joint venture with Honda, which has significant brand reputation, is yet another milestone in our mid- to long-term strategy of promoting electrification in the fast-growing North American market,” said LG Energy Solution CEO, Youngsoo Kwon.
“Since our ultimate goal is to earn our valued customers’ trust and respect, we aspire to position ourselves as a leading battery innovator, working with Honda in achieving its core initiatives for electrification, as well as providing sustainable energy solutions to discerning end consumers.”
Meanwhile, Honda president and CEO Toshihiro Mibe, had this to add: “Honda is working toward out target to realize carbon neutrality for all products and corporate activities the company is involved in by 2050.”
“Aligned with our longstanding commitment to build products close to the customer, Honda is committed to the local procurement of EV batteries which is a critical component of EVs. This initiative in the U.S. with LGES, the leading global battery manufacturer, will be part of such a Honda approach.”
Both LGES and Honda believe that expanding local EV production and ensuring a timely supply of batteries would help them keep up with the rapidly growing North American EV market.
“Our joint venture with Honda, which has significant brand reputation, is yet another milestone in our mid- to long-term strategy of promoting electrification in the fast-growing North American market,” said LG Energy Solution CEO, Youngsoo Kwon.
“Since our ultimate goal is to earn our valued customers’ trust and respect, we aspire to position ourselves as a leading battery innovator, working with Honda in achieving its core initiatives for electrification, as well as providing sustainable energy solutions to discerning end consumers.”
Meanwhile, Honda president and CEO Toshihiro Mibe, had this to add: “Honda is working toward out target to realize carbon neutrality for all products and corporate activities the company is involved in by 2050.”
“Aligned with our longstanding commitment to build products close to the customer, Honda is committed to the local procurement of EV batteries which is a critical component of EVs. This initiative in the U.S. with LGES, the leading global battery manufacturer, will be part of such a Honda approach.”
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