LG Energy Solution to supply Toyota with 20GWh of high-nickel NCMA battery modules annually from 2025.
The companies will produce lithium-ion batteries for EVs produced by Honda by the end of 2025.
The two companies will commit to investing $3.5 billion and creating 2,200 jobs in Fayette County, Ohio.
The company to further expand its efforts in securing raw material for the North American supply chain.
With this agreement, LGES and Honda will invest a total of USD $4.4 billion and establish a new JV plant in the U.S.