Honda, LG Energy Plan $4.4 Billion EV Battery Factory in U.S.

TOKYO—Honda Motor and LG Energy Resolution stated Monday they plan to construct a $4.4 billion electric-vehicle battery manufacturing unit within the U.S., the newest tie-up between auto makers and battery suppliers looking for to develop capability by sharing upfront prices.

The businesses stated they plan to start building of the manufacturing unit early subsequent yr and begin mass manufacturing by the top of 2025. The manufacturing unit goals to have an annual manufacturing capability of about 40 gigawatt-hours and can provide its output completely to Honda services in North America, they stated.