Honda and LG have announced a $3.5 billion battery production joint venture, which will be built in Ohio over the coming two years.
As Honda’s automotive sales have shrunk dramatically over the past year, the company has begun to look at electric vehicles with renewed interest. And to produce its upcoming lineup of electric vehicles, Honda has partnered with LG to produce battery cells at a new facility in Jeffersonville, Ohio.
According to the press release from the two companies, they have pledged a combined total of $3.5 billion for the construction of the battery plant. Still, the overall cost before production can begin is expected to reach $4.4 billion. The plant will have a production capacity of 40GWh, and Honda plans to finish construction in mid-2024, with full production slated for 2025. The plant was first announced last year, but the company’s joint venture has now been finalized along with the construction location.
While Honda has yet to sell an electric vehicle in North America, that is expected to change in the coming years, as the Japanese auto giant has partnered with GM to introduce an electric SUV. Simultaneously, Honda’s motorcycle division has pledged to bring 2-3 electric vehicles to North America over the next few years.
“The formal establishment of this joint venture between LG Energy Solution and Honda to produce EV batteries in Ohio is another major step toward our electrified future,” said Rick Riggle, COO of the new joint venture company, L-H Battery Company. “We are excited to move forward with such a strong partner in LG Energy Solution, and together, we look forward to establishing a strong relationship with the community in Fayette County, Ohio.”
As for LG, this new Ohio-based plant is one of numerous that the battery manufacturer has begun constructing in the United States. Much like many other South Korean battery suppliers, LG rushed to the U.S. following the introduction of the Inflation Reduction Act and has created joint ventures and production partnerships with countless automakers. They are notably building four massive battery plants with General Motors and one sizable plant with Stellantis.
Many consider Honda behind the ball in terms of the electrification of its lineup. Still, with this sizable deal with LG, the Japanese automaker is lined up for continued electrification in the future. And hopefully, this will mean the storied brand will not only exist in the future but continue to provide customers with affordable mobility offerings.
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Elon Musk
Elon Musk’s Starbase, TX included in $84.6 million coastal funding round
The funds mark another step in the state’s ongoing beach restoration and resilience efforts along the Gulf Coast.
Elon Musk’s Starbase, Texas has been included in an $84.6 million coastal funding round announced by the Texas General Land Office (GLO). The funds mark another step in the state’s ongoing beach restoration and resilience efforts along the Gulf Coast.
Texas Land Commissioner Dawn Buckingham confirmed that 14 coastal counties will receive funding through the Coastal Management Program (CMP) Grant Cycle 31 and Coastal Erosion Planning and Response Act (CEPRA) program Cycle 14. Among the Brownsville-area recipients listed was the City of Starbase, which is home to SpaceX’s Starship factory.
“As someone who spent more than a decade living on the Texas coast, ensuring our communities, wildlife, and their habitats are safe and thriving is of utmost importance. I am honored to bring this much-needed funding to our coastal communities for these beneficial projects,” Commissioner Buckingham said in a press release.
“By dedicating this crucial assistance to these impactful projects, the GLO is ensuring our Texas coast will continue to thrive and remain resilient for generations to come.”
The official Starbase account acknowledged the support in a post on X, writing: “Coastal resilience takes teamwork. We appreciate @TXGLO and Commissioner Dawn Buckingham for their continued support of beach restoration projects in Starbase.”
The funding will support a range of coastal initiatives, including beach nourishment, dune restoration, shoreline stabilization, habitat restoration, and water quality improvements.
CMP projects are backed by funding from the National Oceanic and Atmospheric Administration and the Gulf of Mexico Energy Security Act, alongside local partner matches. CEPRA projects focus specifically on reducing coastal erosion and are funded through allocations from the Texas Legislature, the Texas Hotel Occupancy Tax, and GOMESA.
Checks were presented in Corpus Christi and Brownsville to counties, municipalities, universities, and conservation groups. In addition to Starbase, Brownsville-area recipients included Cameron County, the City of South Padre Island, Willacy County, and the Willacy County Navigation District.
Elon Musk
The Boring Company wins key approval for Nashville Music City Loop
The approval allows The Boring Company to use state-owned right-of-way along Tennessee’s highway system.
Tennessee Gov. Bill Lee announced that the Tennessee Department of Transportation (TDOT) and the Federal Highway Administration (FHWA) have jointly approved The Boring Company’s lease application and enhanced grading permit for the Music City Loop.
The approval allows The Boring Company to use state-owned right-of-way along Tennessee’s highway system, clearing a key hurdle for the privately funded tunnel project that aims to connect downtown Nashville to Nashville International Airport in approximately eight minutes, the Office of the TN Governor wrote in a press release.
“Tennessee continues to lead the nation in finding innovative solutions to accommodate growth, and in partnership with The Boring Company, we are exploring possibilities we couldn’t achieve on our own,” Gov. Lee said in a statement.
“The Boring Company is grateful for the leadership and hard work of federal, state, and local agencies in bringing this project to a shovel-ready point,” The Boring Company President Steve Davis said. “Music City Loop will be a safe, fast, and fun public transportation system, and we are excited to build it in Nashville.”
With lease and permitting approvals secured, The Boring Company will move forward with the Loop system’s construction immediately. The first segment of the Loop system is expected to be operational by the end of the year.
The Music City Loop will run beneath state-owned roadways and is designed to connect downtown Nashville to the airport, as well as lower Broadway to West End. The project will be 100% privately funded.
“The Music City Loop shows what’s possible when we leverage private-sector innovation and American ingenuity to solve transportation challenges,” said U.S. Transportation Secretary Sean Duffy. “TDOT’s lease approval will help advance this ambitious project as we work to reduce congestion and make travel more seamless for the American people.”
The Boring Company described the Loop as an all-electric, zero-emissions, high-speed underground transportation system that will meet or exceed safety standards. The Vegas Loop, for one, earned a 99.57% safety and security rating from the DHS and the TSA, the highest score ever awarded to any transportation system.
News
Tesla China extends its 7-year financing promotion once more
The move marks Tesla’s second extension of the program this year.
Tesla has extended its seven-year ultra-low-interest and five-year interest-free financing programs in China once more, pushing the offers through March 31, the end of the first quarter.
The move marks Tesla’s second extension of the program this year. The financing plan was first introduced on January 6 as a strategy aimed at offsetting higher ownership costs ahead of China’s planned 5% NEV purchase tax in 2026.
The original promotion was set to expire at the end of January but was extended to the end of February. This has now been extended again through March.
The repeated extensions reflect growing competitive pressure. Tesla’s 2025 retail sales in China totaled 625,698 units, representing a 4.78% year-on-year decline, as per data compiled by CNEV Post. That being said, this decline is partly caused by the Model Y’s changeover to its new variant in Q1 2025, which resulted in lower sales during the quarter.
In early 2026, the Model Y also lost its position as China’s top-selling EV in January to Xiaomi’s YU7, though this was also a month when Tesla primarily exported vehicles to foreign territories, which pushed local delivery numbers lower.
During January 2026, Tesla China exported 50,644 vehicles, roughly 1.7 times higher than the same month a year ago and more than 15 times higher than December’s level.
Tesla’s financing push has not gone unanswered. BYD this week introduced its own seven-year low-interest plan across its Ocean lineup and Fang Cheng Bao sub-brand, also valid through March 31. Other competitors including NIO, XPeng, Li Auto, and Geely Auto have already rolled out extended-term loan programs as well.
Elon Musk’s Starbase, TX included in $84.6 million coastal funding round
The Boring Company wins key approval for Nashville Music City Loop
