Honda

South Korea’s LG Energy Solution said Wednesday it has agreed to sell a factory building and related assets at its Ohio battery site to Honda Development and Manufacturing of America, a move aimed at strengthening long term operations at the joint venture facility.

The transaction is valued at about 2.86 billion dollars and covers the building and certain assets, but not the land or production equipment. LG Energy Solution said in a regulatory filing that the sale is designed to improve how the joint venture operates as production ramps up.

LG Energy Solution said it does not plan to …