11:19 a.m. ET -- Honda Motor is one of the most talked about companies in the U.S. across all news items in the last 12 hours, according to Factiva data. The Japanese auto maker and LG Energy Solution Ltd. say they aim to begin construction early next year on a $4.4 billion electric-vehicle battery factory in Ohio. The plant marks the first major investment by Honda to build out its own EV batter supply chain since it a little over a year ago targeted a full switch to EVs and fuel-cell cars by 2040. The move is the latest tie-up between an auto marker and a battery supplier as companies seek to expand capacity by sharing upfront costs. Honda has been slower than some rivals to roll out EV models and has yet to offer a mass-market EV for U.S. consumers. Dow Jones & Co. owns Factiva. (robb.stewart@wsj.com)


Corrections & Amplifications

This item was corrected at 11:36 a.m ET. Honda Motor Co. a little over a year ago targeted a full switch to EVs and fuel-cell cars by 2040. The original version incorrectly said the target was 2020.

(END) Dow Jones Newswires

08-29-22 1134ET