LG honda partner to build battery plant in us
Honda and LG announced the building of a new EV battery plant in the United States, in a new joint venture between the two giant corporations.
The new investment will cost the two companies about $4.4-billion. The location of the new factory is not disclosed yet. What we know for now is that the construction will begin in early 2023 and the facility will enter production in 2025 with an expected production volume of 40 gigawatt-hours a year. The Batteries produced in this new plant will be exclusively used in Honda and Acura EVs and will serve the North American market primarily. The adopted technology will be that of lithium-ion batteries.
"Aligned with our longstanding commitment to build products close to the customer, Honda is committed to the local procurement of EV batteries which is a critical component of EVs," said Toshihiro Mibe, president, CEO, and representative director of Honda Motor Company.
Honda has already laid out its EV development strategy for the coming years. Everything will start in 2024 with the launch of both the Honda Prologue and Acura ZDX using the GM Ultium platform. The next major step is the launch of Honda’s e:Architecture platform, further facilitating the development and production of future Honda and Acura EVs. It's very likely that from this point onward, the new cars will be using batteries produced in this new Honda / LG factory.
LG honda partner to build battery plant in us
The desired result of this grand strategy will be the launch of 30 new EV models by 2030 and the production of 2 million units each year.
It’s worth noting that this is not the first Honda-big tech partnership, the carmaker had an earlier agreement with Sony to develop an EV model together. We still don’t know much about the project other than it’s expected to arrive in 2025. However, Sony has announced the development of the Vision-S concept car, without specifying whether it was the same as the joint project with Honda.
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