According to people familiar with the matter, the new battery plant in North America of Honda and LG new energy may be located in Ohio One of the people familiar with the matter said that Ohio is a strong candidate because Honda already has an automobile factory in Ohio, which is convenient for LG new energy to transport batteries to it.
According to people familiar with the matter, the two companies have not yet made a final decision, so the final site may still change. A representative of LG new energy said the company could not comment on the speculation. A Honda spokesman declined to comment.
Image source: honda
Honda plans to invest 5trillion yen ($38billion) in the field of electric vehicles in the next decade to achieve the goal of completely eliminating fossil fuel vehicles by 2040. By 2030, Honda will launch 30 electric vehicles with an annual output of more than 2million.
Although Honda and GM have jointly developed affordable electric vehicles powered by GM's ultium battery, Honda said in April that it was exploring the possibility of establishing a joint venture with another company to produce batteries.
In January, it was reported that Honda and LG new energy were discussing the construction of a plant with an annual capacity of 40 GWH, which could supply batteries for 600000 electric vehicles every year. The plant could cost about 4trillion won ($3.2 billion).
LG new energy is cooperating with automobile manufacturers to improve battery capacity. In the next three to four years, LG new energy plans to build five new battery plants in North America, including three plants with GM in the United States, one plant with stellantis in Canada and a separate plant. In addition, the company plans to operate a 110 GWH and 100 GWH plant in China and Poland respectively.