LG Energy Solution says unit to sell $2.86 billion US joint factory assets to Honda unit
Battery cells with the logo of LG Energy Solution are displayed at the company headquarters in Seoul, South Korea, April 23, 2024. REUTERS/Kim Hong-Ji
SEOUL, Dec 24 : South Korea's LG Energy Solution said on Wednesday its unit is selling its Ohio factory building and assets valued at $2.86 billion to Honda Development and Manufacturing of America.
The planned deal excludes land and equipment, and is meant to "improve joint venture operational efficiency", LG Energy Solution said in a regulatory filing.
In 2022, Honda Motor and LG Energy Solution announced Ohio as the site of their planned $4.4 billion joint-venture battery plant.
Source: Reuters
