Last October, Honda announced a major investment towards producing EVs in the state of Ohio. And now, the Japanese automaker in a joint venture with LG Energy Solution have broken ground on a new EV battery facility in Fayette County, Ohio. The new joint venture EV battery plant will be over 2-million square feet in size and is currently scheduled to be completed by the end of 2024. If all goes well, Honda and LG will start mass production by the end of 2025 and those EV batteries will be used exclusively by Honda’s factories to produce EVs sold in North America.
As part of the joint venture, the two companies have committed to invest $3.5 billion into the facility, which is aiming to produce approximately 40 GWh of annual production capacity. The plant will create 2,200 jobs once it’s completed by the end of 2024.
At the groundbreaking event, president and CEO of Honda Motor Co., Ltd., Toshihiro Mibe, was joined by Dong-Myung Kim, who is president and head of the Advanced Automotive Battery Division of LG Energy Solution. Local and state officials were also in attendance, including Ohio Governor Mike DeWine and Lieutenant Governor Jon Husted. Unveiling a rendering of the new facility at the ceremony were the leaders of the new joint venture company, CEO Robert H. Lee and COO Rick Riggle.
Honda hopes to begin production and sales of Honda EVs in North America by 2026, with vehicles riding on the new Honda e:Architecture. While the automaker is a bit behind some of its competitors, Honda is working towards offering only battery-electric and fuel-cell electric vehicles by 2040.
“It is an honor to represent two great corporations, Honda and LG Energy Solution, both with a long, proud history of success. LG Energy Solution is the leading battery manufacturer globally and is investing aggressively to meet demand for electrification. We are excited to embark on this partnership with Honda, a leader in the global auto industry with a reputation for quality and reliability,” said Lee. “If we harness these strengths, I have no doubt our joint venture will be the most successful battery plant in the world, and we look forward to being a part of this massive transformation toward sustainability.”