Under the agreement, the Japanese automaker and the South Korean battery supplier will invest a total of US $4.4 billion in the plant, which will have an annual production capacity of around 40 GWh.
The construction of the battery plant is planned to start in early 2023, and the start of production is planned for the end of 2025. According to the official announcement, the location of the plant has not yet been finally determined. According to the Japanese business newspaper Nikkei, it will be built in Ohio, where Honda's main US plant is located.
The decision to jointly establish local production, apparently, was taken against the backdrop of new US rules to promote electric vehicles. In the future, electric vehicles in the United States will only qualify for a full tax credit if they were assembled in North America and the main battery raw material also comes from there.
Acura recently introduced its first all-electric model. The electric SUV will be called the Acura ZDX and is expected to hit the market in 2024. Acura is presenting a preview of the electric vehicle in the form of the Precision EV Concept. The Acura ZDX, like the Honda Prologue, will use the General Motors Ultium platform. From 2026, the premium brand wants to launch new electric models based on Honda's own e:Architecture.