Oct. 13, 2022—Honda has announced that it will build an electric vehicle battery plant in Ohio through a joint venture with LG Energy Solution Ltd.
According to Industry Week, the plant will be built in Fayetteville. The joint venture for this plant was announced back in Aug. 2022 by Reuters, but it was confirmed this week that the plans will be put in motion to construct the $3.5 billion plant.
The Fayetteville plant will employ at least 2,200 people. The production will involve advanced lithium-ion battery modules for use in electric vehicles. Construction on this plant is set to begin in early 2023, with a goal of completion by the end of 2024.
Honda also noted plans to spend $700 million to revamp its existing plants for EV production.
LG Energy Solution Ltd. is a South Korean-based battery maker.