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Honda, LG Commit $3.5B to Build EV Battery Plant in Ohio’s Fayette County

Honda and LG Energy Solution said Tuesday that their new joint venture battery plant will be located in Fayette County, Ohio, about 40 miles southwest of Columbus. The two companies will commit to investing $3.5 billion, with the overall investment related to the JV projected to reach $4.4 billion. 

The JV plans to begin construction in early 2023 and to complete the new facility by the end of 2024. The plant is slated to begin mass production of pouch-type lithium-ion batteries by the end of 2025. 

Honda already has announced plans to begin production and sales of Honda electric vehicles in North America in 2026. The EV batteries produced at the new JV plant will be provided to Honda auto plants to produce EVs that will be sold in North America. 

Separately, Honda said it would spend $700 million to retool Ohio plants for EV production. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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