- ARAB NEWS
- 01 May 2025
Since 1975
TOKYO: Japanese automaker Honda Motor Co. said Monday that it and South Korea’s LG Energy Solution Ltd. will invest 4.4 billion dollars to jointly establish a lithium-ion battery plant in the United States.
The joint venture with the South Korean battery giant will supply batteries for electric vehicles, as the US market for such vehicles is expanding rapidly.
Construction is set to begin early next year, with production expected to start in 2025.
Honda will invest 1.7 billion dollars in the venture for a 49 percent stake. The automaker said that it will make the investments in stages from the current fiscal year.
JIJI Press
