LG Energy Solution CEO Young-soo Kwon once said, “LG Energy Solution is establishing itself as a leading battery maker in North America through preemptive investment and development of production capabilities.” Indeed, LG Energy Solution recognized the importance of the North American battery market and built its production plants in many places of the region.
Also, it is building networks in the market with competitive global companies. Among them, it partnered with Honda, a Japanese car manufacturer, and established a joint venture battery plant in Ohio, U.S.
We are going to Ohio in North America for this World Battery Tour! We will learn about Ohio, a place much loved by tourists, and about the LG Energy Solution and Honda joint venture.
Ohio, the birthplace of Neil Armstrong, the first human to set foot on the Moon, and a state with many tourist attractions
The name Ohio originated from a native American language and means “great river.” Located in northeastern part of the U.S., the state is bordered by Michigan to the north, Pennsylvania to the east, Indiana to the west, and Kentucky to the south.
In particular, Ohio is favored by many tourists. In the City of Columbus of the state sits the Ohio Statehouse.
It also boasts a well-preserved nature. It borders Lake Erie, the fourth-largest lake of the five Great Lakes in North America, to the northwest. Hocking Hills State Park located in southeast Ohio is known for its beautiful cliffs and waterfalls, presenting different sceneries for each season.
The National Museum of the United States Air Force is a must-see in Ohio. You can find the heritage and history of great people from Ohio: The Wright Brothers who achieved the first powered flight and Neil Armstrong who was the first human to go to the moon. The museum displays their heritage and shows relevant aerospace history.
A joint venture of LG Energy Solution and Honda, achieved as an advanced battery maker meets a global carmaker
LG Energy Solution is sharpening its edge as a global battery maker in Ohio. The two companies established a joint venture named L-H Battery Company, Inc. (tentatively) and constructed a plant nearby Jeffersonville in Fayette County, Ohio.
The joint venture plant is scheduled to be completed by the end of 2024 and to start mass-production by the end of 2025. Its size is expected to be about 186,000㎡ with an annual production capacity of about 40GWh. Batteries produced in this plant would be supplied exclusively to Honda facilities in North America.
This is the first case where a Korean battery maker cooperates with a Japanese carmaker and the first and largest project ever for LG Group to work with Honda. This project is special for both of them because the battery maker will be producing batteries for Honda’s first-generation EV platform.
The joint venture plant is expected to make a positive impact on the communities as well. When completed, the plant in Ohio is estimated to create approximately 2,200 jobs.
We have looked at LG Energy Solution’s move with Honda, a global leader in the car industry, for this World Battery Tour. We could see the ambitions of LG Energy Solution, Honda, and the communities in Ohio as they aim at the North American battery market. We will come back with another story about what LG Energy Solution is doing for innovation across the world!
* Check out the YouTube Short, “World Battery Tour with LG Energy Solution.”