Honda Secures Full Ownership of Ohio EV Battery Plant

In a significant strategic shift, Honda has reached an agreement to acquire full ownership of a major electric vehicle battery plant in Ohio from its partner, LG Energy Solution. This $2.9 billion transaction involves the purchase of the facility’s physical structures and related assets, though the land and equipment remain under separate arrangements. The move allows LG Energy Solution to reduce its construction expenses and improve operational efficiency, while the two companies will continue their partnership through a leasing agreement. Scheduled to launch in 2026, the factory is essential for Honda’s transition toward a proprietary EV platform, moving away from its current reliance on General Motors. These batteries will power a fresh lineup of vehicles, including the upcoming Acura RSX and the specialized Honda 0 Series. This acquisition underscores Honda's commitment to securing its own supply chain as the automotive industry navigates changing economic landscapes and shifting government policies.If you find this podcast useful, you can support it here: https://buymeacoffee.com/emotorselectricrevolution. And don’t forget to follow so you don’t miss the next episode