LG Energy Solution (LGES) and Honda’s joint electric vehicle (EV) battery plant started construction on the facility, installing the first steel beam on the site in Jeffersonville, Ohio.
“There are many beginnings when you form a new company to build a new facility, but today is an important milestone for the LGES-Honda team, for the local community, and everyone working at the site to create our new EV battery facility,” said Bob Lee, CEO of the new LGES-Honda joint venture.
LGES and Honda expect to complete construction on their new battery cell facility by the end of 2024. The battery plant will start producing cells by 2025 with an annual production capacity of approximately 40GWh. The facility will produce pouch-type lithium-ion battery cells to exclusively supply to Honda. The cells will go to Honda’s automobile manufacturing plans producing electric vehicles for the North American market.
Honda and LGES’ battery facility in Ohio is expected to create precisely 2,527 new jobs with more than $140 million in new payroll in Jeffersonville, Ohio. About 2,200 employees will be employed through the LGES-Honda battery plant, while 327 will be employed through Honda’s retooling.
The Honda-LGES battery plant hints at the Inflation Reduction Act’s (IRA) strong influence in the automobile industry. The bill encourages investments within the United States, particularly in battery production.
Honda and LGES have worked hard to get the community surrounding its battery facility. The companies hosted a community barbecue at the beginning of the money at Fayette County Airport in Washington Court House. People from the community could meet and greet the leaders of the battery plant. Honda and LGES also provided information on future job opportunities at the battery plant.
“We are grateful for the warm welcome our new joint venture battery plant has received from Fayette County, and we look forward to meeting more of our new neighbors at this community barbecue,” said the Honda-LGES JV company CEO. “We hope our new neighbors will bring their families and friends to learn more about our new manufacturing facility.”