# LG Energy Solution with Honda Forming Joint Venture for EV Battery Production in U.S.A. - Link: https://greenlivingguy.com/2022/08/lg-energy-solution-with-honda-forming-joint-venture-for-ev-battery-production-in-u-s-a/ - Published: 2022-08-30T22:31:09-04:00 - Author: greenlivingguy # August 29, 2022 — Seoul, Korea LG Energy Solution (LGES; KRX: 373220) and Honda Motor Co., Ltd. (NYSE:HMC) today announced an agreement to establish a joint venture (JV) company to produce lithium- ion batteries in the U.S. to power Honda and Acura [EV](https://greenlivingguy.com/2018/02/backup-charging-is-essential-as-more-electric-vehicles-are-adopted/) models for the North American market.With this agreement, LGES and Honda will invest a total of USD $4.4 billion and establish a new JV plant in the U.S. The plant aims to have an annual production capacity of approximately 40GWh. The pouch-type batteries produced at the new JV plant will be supplied exclusively to Honda facilities in North America. While the location for the joint venture plant is yet to be finalized, based on Honda’s plans for [EV production in North America](https://greenlivingguy.com/2024/01/lg-chem-breaks-ground-on-largest-cathode-plant-in-the-us/), the two companies aim to begin construction in early 2023, in order to enable the start of mass production of advanced lithium-ion battery cells by the end of 2025. ## Supply Chains LGES and Honda made the decision to establish the joint venture battery plant in the U.S.  It’s based on the shared belief that expanding local [electric vehicle](https://greenlivingguy.com/2019/04/evs-getting-cleaner-over-time/) production. Also ensuring [the timely supply](https://greenlivingguy.com/2014/01/honda-earth-dreams-for-a-sustainable-future/) of batteries. For it would put them in the best position to target the rapidly-growing North American EV market. # ![](https://i0.wp.com/greenlivingguy.com/wp-content/uploads/2022/05/Honda-Prologue-Teaser-Sketch_Final_with-logo.jpg?resize=300%2C292&quality=52&ssl=1) Our joint venture with [Honda](https://greenlivingguy.com/2023/03/lg-honda-joint-venture-ev-battery-plant-ohio/), which has significant brand reputation. Because is yet another milestone in our mid- to long-term strategy of promoting electrification in the fast-growing North American market,” said Youngsoo Kwon, CEO of LG Energy Solution. “Since our ultimate goal is to earn our valued customers’ trust and respect. For we aspire to position ourselves as a leading battery innovator. Thereby working with Honda in achieving its core initiatives for electrification. That’s as well as providing [sustainable energy solutions](https://greenlivingguy.com/2025/07/ev-battery-recycling-a-renewable-solution-hiding-in-plain-sight/) to discerning end consumers.” From comments I received from Toshihiro Mibe. For he is the President, CEO and Representative Director of Honda [Motor](https://greenlivingguy.com/2011/11/honda-prices-its-all-electric-fit-but-pushes-leases/) Co., Ltd. So this is big. He stated Honda is working toward their targets. Well never heard that too much. But it’s to realize carbon neutrality for all products. Also, corporate activities the company will be actively involved in by 2050. What is 2050 goals? But I am glad to see something positive is happening out there! ### Honda, Build Your Own Electric Vehicles! They added this is aligned with their longstanding commitment to build products close to the customer. So I guess they get now we want electric cars and to stop playing!! They added [Honda](https://greenlivingguy.com/2016/01/test-drive-results-honda-civic-hybrid-electric-car-limited/) is committed to the local procurement of EV batteries. All which is a critical component of EVs. This initiative in the U.S. with LGES. For they are the [leading global battery manufacturer](https://greenlivingguy.com/2007/03/sunedison-sacramento-municipal-utility-district-smud-plus-leading-inverter-manufacturers-supporting-utility-standard-ansi-c12/). It will be part of “such a Honda approach.” The joint venture is scheduled to be established in 2022. In addition, the closing is subject to customary closing conditions, including regulatory approvals. Sources**: **[LG](https://greenlivingguy.com/2016/04/lg-electronics-honored-by-u-s-epa-as-2016-energy-star-partner-of-the-year-earns-2016-climate-communicator-award/) Energy Solution [https://www.lgensol.com ](https://www.lgensol.com/)and About [Honda](https://hondanews.com/en-US/honda-corporate/releases/lg-energy-solution-and-honda-to-form-joint-venture-for-ev-battery-production-in-the-us?utm_medium=email&utm_campaign=LG%20Energy%20Solution%20and%20Honda%20to%20Form%20Joint%20Venture%20for%20EV%20Battery%20Production%20in%20the%20US&utm_content=LG%20Energy%20Solution%20and%20Honda%20to%20Form%20Joint%20Venture%20for%20EV%20Battery%20Production%20in%20the%20US+CID_4be9ee651775ffde64e2409dec8adfca&utm_source=Honda%20Campaign%20Monitor) Motor Co., Ltd. **Corporate Communications Department, Honda Motor Co., Ltd.  ** [hondapr@jp.honda](https://greenlivingguy.com/2022/08/lg-energy-solution-with-honda-forming-joint-venture-for-ev-battery-production-in-u-s-a/hondapr@jp.honda) ![author avatar](https://secure.gravatar.com/avatar/df91669667126e1290c21ee0342c386e2da19d588d4d9ca6560bd82ed59a9641? s=300&d=monsterid&r=g) greenlivingguy The Green Living Guy, Seth Leitman is an independent power producer, a green living expert, and Editor of the McGraw-Hill, TAB Green Guru Guides. Seth is also an Author, Radio Host, Reporter, Writer and an Environmental Consultant on green living. The Green Living Guy writes about green living, green lighting, the green guru guides and more. Seth's books range from: # Build Your Own Electric Vehicle by Bob Brant and Seth Leitman (2nd and 3rd editions) # Build Your Own Plug-in Hybrid Electric Vehicle by Seth Leitman # Build Your Own Electric Motorcycle by Carl Vogel # Green Lighting by Seth Leitman, Brian Clark Howard and Bill Brinsky # Solar Power For Your Home by David Findley # Renewable Energies For Your Home by Russel Gehrke # Do-it-Yourself Home Energy Audits by David Findley # Build Your Own Small Wind Power System by Brian Clark Howard and Kevin Shea # and more green living books to follow. [See Full Bio](https://greenlivingguy.com/author/greenlivingguy/) [ ](https://greenlivingguy.com/author/greenlivingguy/)