LG Chem to build $3.2 billion cathode plant in Clarksville
NASHVILLE, Tenn. (WSMV) – Tennessee Gov. Bill Lee, along with other state leaders, announced Monday LG Chem will invest more than $3 billion to establish a new cathode manufacturing facility in Clarksville – a move that will bring hundreds of jobs to Montgomery County.
The new $3.2 billion facility is expected to bring 860 new jobs to the county and help support the electric vehicle battery value-chain in the U.S., a media release said. LG Chem’s investment represents the single largest announced foreign direct investment in Tennessee’s history, according to officials.
The Clarksville facility will be the largest of its kind in the U.S. and is expected to produce roughly 120,000 tons of cathode material annually by 2027, which is enough to power batteries in 1.2 million electric vehicles with a range of 310 miles per charge, officials said.
“LG Chem’s decision to invest $3.2 billion in Clarksville is a testament to Tennessee’s unmatched business climate, skilled workforce and position as a leader in the automotive industry,” Lee said in a statement. “I thank this company for creating more than 850 new jobs to provide opportunity to Tennesseans across Montgomery County.”
The current plan is for the facility to be constructed on 420 acres at the Allensworth site in Clarksville. Construction is expected to start in early 2023, with production expected to start after June 2025. Once operational, the facility will produce cathode materials, which are one of the most critical ingredients for manufacturing electric vehicle batteries, the release said.
The new facility will be designed with the environment and future needs of clean energy in mind, according to the release.
“This is a big win for Tennessee and Montgomery County. LG Chem’s decision to locate its new cathode manufacturing facility in Clarksville underscores Tennessee’s growing profile as a hub for U.S. and global companies,” said Tennessee Department of Economic and Community Development Stuart McWhorter in a statement. “As we continue our efforts to attract companies in the automotive industry, we are focused on supporting companies that boost Tennessee’s presence in the EV space. I appreciate LG Chem for its substantial investment in Clarksville and look forward to building a successful partnership with the company in the years ahead.”
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