TOKYO—Honda Motor and LG Energy Solution said Monday they plan to build a $4.4 billion electric-vehicle battery factory in the U.S., the latest tie-up between auto makers and battery suppliers seeking to expand capacity by sharing upfront costs.
The companies said they plan to begin construction of the factory early next year and start mass production by the end of 2025. The factory aims to have an annual production capacity of about 40 gigawatt-hours and will supply its output exclusively to Honda facilities in North America, they said.