Honda, LG to build battery factory in US

The two Asian majors are investing billions in batteries for EVs in North American push.

BY MARKETWIRE, TRANSLATED BY CHRISTOFFER ØSTERGAARD

Japanese automaker Honda and South Korean battery manufacturer LG Energy Solution have teamed for a US joint venture with a total investment of USD 4.4bn.

The two companies plan to build a factory that will manufacture batteries for electric vehicles, writes news agency AFP.

The completion of the factory is slated for next year, with mass production of advanced lithium-ion batteries expected by the end of 2025, the parties inform.

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