Honda buys out EV battery plant in the US for nearly $3B as it preps for an all-new lineup
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Honda has agreed to purchase its co-owned EV battery plant in Ohio from LG Energy Solutions for $2.9 billion. This acquisition is part of Honda's strategy to prepare for an all-new dedicated EV lineup. The facility, initially a joint venture with LG, is part of the "Honda EV Hub" in Ohio, with production expected to start in 2026. Honda will now fully own the plant, which aims for an annual capacity of 40 GWh.
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