LG Energy Solution and Honda have established a joint venture to produce lithium-ion batteries for Honda’s electric vehicles. The new battery plant, set to be built in Fayette County, near Jeffersonville, will begin construction early this year with plans to start mass production by the end of 2025.
The plant will have an annual production capacity of 40 GWh and will exclusively supply batteries to Honda plants in North America. The companies have committed to investing $3.5 billion and creating 2,200 jobs for the new facility, with the overall investment projected to reach $4.4 billion.
A joint venture with Honda is a logical move, as Honda will gain access to LGES’s vast knowledge and expertise, including over 25,000 patents, a large R&D department, and a strong global network. This partnership will greatly enhance Honda’s focus on electric vehicles.