LG New Energy and Honda’s joint venture battery plant in the United States will start construction and is expected to be put into operation in 2025

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South Korea’s LG New Energy Company(LGES)said on Wednesday that its joint venture with Honda Motor Company has begun to build an automobile battery factory in the United States with a planned investment of$4.4 billion,which is expected to be put into operation by the end of 2025.

LG New Energy said in a statement that its joint venture with Honda Motor,which was established in August last year,held the opening ceremony of the battery factory in Jefferson ville,Ohio,on Tuesday local time.The factory will produce 40 GWh of battery every year.

The joint venture company,L-H Battery Co.,plans to build this factory by the end of 2024 and provide batteries for Acura models assembled by Honda’s American factory.