LG Energy Solution and Honda Formally Establish Battery Production Joint Venture
MARYSVILLE, Ohio , Jan. 13, 2023 /PRNewswire/ -- LG Energy Solution (LGES; KRX: 373220) and Honda Motor Co., Ltd. (Honda) today announced the formal establishment of the joint venture (JV) which will produce lithium-ion batteries for electric vehicles (EV) produced by Honda.
- MARYSVILLE, Ohio , Jan. 13, 2023 /PRNewswire/ -- LG Energy Solution (LGES; KRX: 373220) and Honda Motor Co., Ltd. (Honda) today announced the formal establishment of the joint venture (JV) which will produce lithium-ion batteries for electric vehicles (EV) produced by Honda.
- LGES and Honda have committed to creating 2,200 jobs to establish the new production facility.
- The JV will begin construction of a new battery plant early this year with the goal of completion by the end of 2024 and starting mass production of advanced lithium-ion battery cells by the end of 2025.
- LGES and Honda have committed to investing $3.5 billion and creating 2,200 jobs to establish the new production facility.