Honda and LG Chem will establish a $4.4 billion electric car battery facility in the United States, the latest drive to boost domestic manufacturing in order to meet new tax credit requirements.
Honda and LG Chem will launch a joint venture to manufacture batteries in the United States for the automaker’s forthcoming EV portfolio. The two businesses want to start building in early 2023 so that mass manufacturing of lithium-ion battery cells may commence by the end of 2025. By 2030, Honda and its subsidiary Acura want to deliver 30 hybrid, battery-electric, and fuel-cell automobiles.
