Japan’s Honda and LG Energy Solutions… Building an electric vehicle battery plant in the US

Honda’s Chief Executive Officer Toshihiro Mibe answers questions from reporters. [이미지출처=AP연합뉴스]

湲 蹂肄

[아시아경제 이지은 기자] Japan’s Nihon Keizai Shimbun reported on the 29th that Japanese automakers Honda and LG Energy Solutions plan to establish a joint venture and establish a vehicle battery plant in the United States. This is the first time Honda has built its own electric vehicle battery plant, and it is reported that construction will begin next year and mass production will begin in 2025.

According to the report, Honda reported that LG Energy Solutions and Honda plan to establish a joint venture in Ohio, the US where Honda’s main plant is located, to produce lithium-ion batteries.

Currently, LG Energy Solutions is increasing its production capacity by establishing a joint plant in North America with General Motors (GM) of the US. LG Ensol sets the annual production capacity of its joint plant with GM at 30 gigawatt hours (GWh), which can produce 500,000 to 600,000 electric vehicles. It is also said that the plant to be built in collaboration with Honda is of a similar size.

Nihon Keizai said that in 2026, an electric vehicle made with a body developed independently by Honda will be equipped with an armature battery ‘Altium’ produced through a joint venture with LG Energy Solutions. Honda plans to produce about 800,000 electric vehicles in the United States by 2030, and plans to launch all new cars in the form of electric or fuel cell vehicles by 2040.

Nihon Keizai analyzed, “The joint venture between the two companies is largely to avoid the risk of supply chain disruption, which has deepened due to the US-China conflict.” In the past, automakers have been using the method of procuring electric vehicle batteries from electric vehicle production sites as a basic strategy to reduce production costs. However, as the US moves to limit electric vehicle production to its own country, it is seeking plans with Korean companies to reduce the supply chain crisis.

In addition, as the US-China conflict intensifies, some automakers are increasingly viewing the risk of expanding electric vehicle procurement sources in China.

Meanwhile, Nihon Keizai predicted that if the plant construction starts in 2025, the three Korean electric vehicle battery companies, SK On, Samsung SDI, and LG Energy Solution, will operate a total of 12 electric vehicle battery plants in North America.

Reporter Lee Ji-eun [email protected]

Source: 아시아경제신문 실시간 속보 by www.asiae.co.kr.

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