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Posted on August 30, 2022 by goonews

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ReutersHonda Motor, LG Energy to build $4.4 billion US EV battery plantJapan’s Honda Motor Co will build a new $4.4 billion lithium-ion battery plant for electric vehicles in the United States with Korean battery supplier LG Energy Solution Ltd, the two companies said on Monday. Battery makers are looking to increase production in the US where a shift toward electric vehicles (EV) could increase as the country implements stricter regulation and tightens tax credit eligibility. The location of the plant has not been finalised, the companies said, but two people briefed on the matter confirmed reports Honda is seriously considering Ohio, where Honda’s main US factory is located.