Jeffersonville, Ohio – February 29, 2024 – The LG Energy Solution-Honda joint venture celebrated a significant milestone today with the placement of the final structural beam at their new electric vehicle (EV) battery production facility in Jeffersonville, Ohio.
“This is a momentous day for the LG Energy Solution-Honda team,” said Bob Lee, CEO of the joint venture. “Just a year ago, this was an empty field, and today we see the project nearing completion. We are incredibly grateful to everyone who has made this possible, including our dedicated workforce and the supportive local community.”
The joint venture represents a $4.4 billion investment, creating 2,200 new jobs and aiming for an annual production capacity of approximately 40 gigawatt-hours (GWh) by the end of 2024. The facility will manufacture cutting-edge pouch-type lithium-ion batteries to support Honda’s North American EV production plans.
Established in January 2023, the joint venture is on track to begin mass production of batteries by the end of 2025, supplying them exclusively to Honda’s North American EV plants. Honda has also announced a $700 million investment to retool existing facilities for EV production, with plans to begin sales in 2026.
This project aligns with Honda’s vision of achieving carbon neutrality by 2050 and transitioning to 100% electric vehicle sales by 2040. LG Energy Solution, leveraging its global battery manufacturing network and expertise, is committed to supporting this transition and expanding its annual production capacity to 300 GWh by the end of 2024.
For more information about the joint venture battery plant, visit www.lgeshonda.com.
