This 4 4 Billion Investment Will Bring Electric Vehicle Battery Production To The Us
LGES and Honda will invest a total of $4.4 billion to establish this joint venture. The plant will produce pouch-type batteries that will be supplied exclusively to Honda facilities in North America. “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,” Honda CEO Toshihiro Mibe said in a statement. SEE: Honda plans to launch 30 EVs by 2030, including two sports cars The location for the plant is yet to be determined but construction will begin in early 2023, which will allow for the mass production of advanced lithium-ion battery cells by the end of 2025....