Honda Motor Co., Ltd. and LG Energy Solution announced the location of the battery factory for Honda electric vehicles will be based in Fayette County in the State of Ohio, United States with a total investment of $ 3.5 billion and a target annual production capacity of 40GWh and can absorb approximately 2,200 workforce in the city of Fayette County and beyond.
The two sides previously inaugurated the cooperation in the production of electric vehicle batteries through a cooperation agreement at the end of August 2022. This factory will produce pouch-type batteries that will be supplied to Honda's electric vehicle assembly plant in North America, in line with the increasing trend of electric-based vehicles in the region. The factory will begin construction in early 2023 with a target for mass production of advanced lithium-ion battery cells by the end of 2025.
Dong-Myung Kim, Executive Vice President of Advanced Automotive Battery Division at LG Energy Solution said, “Our commitment is to produce high quality products with Honda. Not only that, we also create jobs that are profitable for both parties.”
Bob Nelson, Executive Vice President of American Honda Motor Co., Inc. said "We would like to specifically thank the officials in the State of Ohio, in particular Fayette County, Jefferson Township, Jeffersonville and Washington Court House for welcoming the proposal for cooperation between Honda and LG Energy Solution."
In addition, Honda has also presented its global plan to launch up to 30 electric cars by 2030, with a production volume of 2 million units annually. In addition, Honda is also trying to achieve carbon neutrality for all product lines and company activities by 2050.
