GAC Group enters the battery industry

In July 2022, GAC Group said it would independently develop batteries and no longer rely on others. Subsequently, Honda Motor also announced that it would cooperate with LG Energy Solution to build a battery joint venture factory in the United States, investing US$4.4 billion and planning an annual production capacity of 40GWh. The factory is located in Ohio, USA, and is expected to be completed by the end of 2024 and put into production by the end of 2025.