TimesEV
TimesEV
TimesEV
TimesEV
TimesEV
TimesEV
More
    HomeEV NewsHonda and LG partnering for EV Battery Plant in the U.S.

    Honda and LG partnering for EV Battery Plant in the U.S.

    Honda Motor will build a battery plant for electric vehicles in the U.S. with LG Energy Solution, a major South Korean battery manufacturer. The two companies are expected to spend several hundred billion yen on the new facility. Construction will begin in 2023 with the goal of starting mass production in 2025.

    The shift to electric vehicles is expected to move forward rapidly in the U.S., and Honda wants to secure batteries for its own vehicles. This will be Honda’s first EV battery plant. The U.S. is also moving to corral EV production within its own borders. Honda aims to develop a stable supply of batteries by teaming up with the South Korean company.

    Honda and LG Energy will establish a joint venture to produce lithium-ion batteries in Ohio, where Honda’s main plant is located. LG Energy holds the second-largest global battery market share, after China’s Contemporary Amperex Technology (CATL). In addition to General Motors, the company has established a joint venture to make batteries in North America with Europe’s Stellantis to increase its production capacity.

    LG Energy has an annual production capacity of 30 gigawatt-hours at its plants with GM and other companies, and it appears that the plant with Honda will be on the same scale. That is enough to supply 500,000 to 600,000 standard electric vehicles.

    Honda’s goal is to make all of its new cars either electric vehicles or fuel cell vehicles (FCVs) by 2040. In the U.S., two electric models equipped with Ultium batteries, jointly developed by GM and LG Energy, will launch in 2024. Honda plans to produce about 800,000 electric vehicles in the U.S. by 2030. The company is also considering building a new production line exclusively for electric vehicles.

    Honda will invest about 43 billion yen ($310 million) in its research center in the Tochigi prefecture city of Sakura, Japan to set up a demonstration line to produce batteries. The line will start operation in the spring of 2024. The company aims to install the batteries in vehicles to be launched later in the 2020s and will establish a mass-production system in the future.

    Related Post

    Most Popular

    Best Picks

    Veridify, Overcoming the challenges of OT security in building automation with an STM32

    Despite popular belief, it is possible to secure legacy embedded systems properly, even if they lack today’s iron-clad cryptographic capabilities, the latest protections, or...

    Tsuyo’s Vision for Future Manufacturing: Incorporating Emerging Technologies and...

    Tsuyo Manufacturing is deeply committed to offering highly reliable, robust, and durable products designed to withstand a wide range of exposure and service conditions...

    Revamp Moto’s Vision for Advanced EV Features and Industry...

    Revamp Moto is a dynamic and forward-thinking electric vehicle (EV) startup, firmly committed to providing sustainable and adaptive E-mobility solutions. Their primary focus centres...

    ST and ZF sign multi-year supply agreement for Silicon...

    Silicon Carbide technology is widely used in semiconductor material which are easy to fabricate and provides good general electrical and mechanical properties. However, it...

    Exploring Electrochemical Properties: Unraveling Battery Performance and Behavior

    Automotive Test Systems stands as a trailblazing company with an extensive and diverse background in Product Validation, Structural Testing, Data Acquisition and Analysis, Vehicle...

    WISE Testing Solutions: Comprehensive Products and Services for Vehicle...

    WISE Testing Solutions Pvt. Ltd., a privately held company registered as a limited company, aims to provide a comprehensive range of products and services...

    Anton Paar: Revolutionizing EV Battery Testing with Standardization Initiatives

    Anton Paar, a distinguished company specializing in the development, production, and distribution of precision laboratory instruments and process measuring systems, alongside delivering customized automation...

    Exploring the Challenges and Testing Methods for Electric Vehicle...

    Aimil Ltd. is an esteemed organization celebrated for its exceptional expertise spanning multiple domains such as electric vehicle battery testing (both electrical and mechanical),...

    “The core idea behind u-blox has always been to...

    u-blox develops some of the world’s leading IoT communication and GNSS modules, chips and services supporting the industrial, automotive and consumer markets. Recently Andreas...

    Must Read