LG Energy Solution and Honda formally establish battery production joint venture; 40 GWh/year

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LG Energy Solution and Honda Motor announced the formal establishment of the joint venture (JV) which will produce lithium-ion batteries for electric vehicles (EV) produced by Honda. 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. The new plant will be located approximately 40 miles southwest of Columbus in Fayette County, near Jeffersonville. LGES and Honda have committed to investing $3.5 billion and creating 2,200 jobs to establish the new production facility. The companies’ overall investment related to the JV is projected to reach $4.4 billion.

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