LG Energy Solution and Honda Formally Establish Battery Production Joint Venture
MARYSVILLE, Ohio ,
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 plant aims to have an annual production capacity of approximately 40GWh. All batteries produced by the new JV will be supplied exclusively to Honda plants in
The new plant will be located approximately 40 miles southwest of
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(Percentage of ownership: 51% LGES, 49% Honda) |
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- Comments by
Robert H. Lee , CEO ofL-H Battery Company, Inc.
"LG Energy Solution has all the right assets to make this joint venture a success, including the financial stability, quality, competitiveness, and production capacity with global operational expertise," said Robert H. Lee. "With two companies' expertise combined, we will provide top quality batteries to ensure the successful launch of Honda EVs inNorth America , and grow with the community here inOhio by creating high value jobs." - Comments by
Rick Riggle , COO of L-HBattery Company, Inc.
"The formal establishment of this joint venture between LG Energy Solution and Honda to produce EV batteries inOhio is another major step toward our electrified future," said Rick Riggle. "We are excited to move forward with such a strong partner in LG Energy Solution and, together, we look forward to establishing a strong relationship with the community inFayette County,Ohio ."
LG Energy Solution (KRX: 373220), a split-off from LG Chem, is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems. With 30 years of experience in revolutionary battery technology and extensive research and development (R&D), the company is the top battery-related patent holder in the world with over 25,000 patents. Its robust global network, which spans North America, Europe, Asia, and Australia, includes battery manufacturing facilities established through joint ventures with major automakers such as General Motors, Stellantis N.V.,
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SOURCE Honda