In a significant development for the electric vehicle (EV) industry, LG Energy Solution (LGES) and Honda have commenced construction on their joint EV battery plant. The project reached a major milestone with the installation of the facility’s first steel beam in Jeffersonville, Ohio.
The CEO of the newly formed LGES-Honda joint venture, Bob Lee, expressed the importance of this moment, stating, “There are many beginnings when you form a new company to build a new facility, but today is an important milestone for the LGES-Honda team, for the local community, and everyone working at the site to create our new EV battery facility.”
With an ambitious timeline, LGES and Honda anticipate completing the construction of their cutting-edge battery cell facility by the end of 2024. Once operational in 2025, the plant will have an annual production capacity of approximately 40GWh, focusing on pouch-type lithium-ion battery cells exclusively for Honda. These cells will be supplied to Honda’s automobile manufacturing plants, supporting the production of electric vehicles for the North American market.
This collaboration between Honda and LGES is expected to generate a boost to the local economy in Jeffersonville, Ohio. The battery facility is projected to create precisely 2,527 new jobs and contribute over $140 million in new payroll. Around 2,200 employees will be hired through the LGES-Honda battery plant, while an additional 327 jobs will be created through Honda’s retooling efforts.
The establishment of the Honda-LGES battery plant is seen as a testament to the influence of the Inflation Reduction Act (IRA) in the automotive industry. This legislation encourages investments within the United States, particularly in battery production, and highlights the companies’ commitment to supporting sustainable growth in the country.
To foster a strong bond with the local community, Honda and LGES organized a community barbecue event at the Fayette County Airport in Washington Court House. The gathering provided an opportunity for community members to meet and greet the leaders of the battery plant. Attendees received valuable information about future job opportunities at the facility.
“We are grateful for the warm welcome our new joint venture battery plant has received from Fayette County, and we look forward to meeting more of our new neighbors at this community barbecue,” expressed the CEO of the Honda-LGES JV company. “We hope our new neighbors will bring their families and friends to learn more about our new manufacturing facility.”
