Japanese automaker Honda has teamed up with South Korean tech giant LG to form a joint venture to produce batteries for electric vehicles. The new plant will be located in the United States and the partners are ready to invest about $4.4 billion in its construction.
Where exactly in the US the new venture of Honda and LG Energy Solution will be opened is not specified. But it is known that its construction will start in early 2023, and the start of production is scheduled for 2025.
The new plant will produce lithium-ion battery cells for Honda and Acura electric vehicles for the North American market. The opening of the joint venture in the US is part of Honda’s longstanding strategy to build its products as close to their end customers as possible. That is why Honda wants to produce batteries, which are perhaps one of the most important elements of electric vehicles, in the United States, where new electric models will be assembled for the North American market.
And, despite the fact that Honda still does not have a single serial electric car, the Japanese auto giant, like its competitors, relies on electric trains. The company promises to release about 30 models with an electric motor instead of an internal combustion engine by 2030, and their annual production should be at least 2 million units.
Source: Trash Box
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