Japanese automaker Honda and South Korea’s LG Energy Solution announced Monday that they will jointly invest $4.4 billion (€4.4 billion) to build an electric battery factory in the United States, which will exclusively supply Honda factories in the country. .
Start of production planned for 2025
The construction site should start in early 2023, to enable the launch of mass production of lithium-ion batteries by the end of 2025, according to a joint press release from the two groups, which will found a dedicated joint venture. The precise location of this future factory in the United States has not yet been finalized.
Number two in the Japanese auto industry after Toyota, Honda has set a 2021 goal of becoming 100% electric by 2040 worldwide.
To do this, the group announced in April that it intended to invest 5000 billion yen (about 37 billion euros) in the next ten years in electrification. It plans to launch 30 electric models by 2030 in all its ranges.
A response to the future American “super-bond”
In North America, one of its key markets, Honda is already allied with US giant General Motors on electric vehicles and batteries, but this partnership is not exclusive.
The North American market for electric vehicles is expanding rapidly, increasingly driven by local authorities. Last week, the state of California passed a law banning the sale of new diesel and gasoline cars beginning in 2035, a first in the United States, with other states across the country expected to follow.
In addition, the United States Senate has just voted on the general lines of a new bond, which makes it possible to obtain up to 7,500 dollars in aid for the purchase of an electric car, provided that the latter is assembled in a factory in the United States. United, just like your battery. This encourages manufacturers to produce locally, while currently 70% of vehicle models sold in the United States would not be eligible.
Source: BFM TV
