South Korea's LG Energy Solution Ltd. (LGES) said Wednesday its joint venture with Honda Motor Co. has begun construction of a car battery plant in the United States with an aim to start production in late 2025.
The 51:49 joint company, set up between LGES and Honda Motor in August last year, held a groundbreaking ceremony for the 40 gigawatt hour-a-year battery plant in Jeffersonville, Ohio, on Tuesday (local time), LGES said in a statement.
The joint venture named L-H Battery Co. plans to complete the US$4.4 billion plant by the end of 2024 and supply car batteries for Honda's Acura models assembled in its U.S. plant, it said.
Source: Yonhap News Agency