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South Korean firm to spend $3.2B in TN, create 1,000 jobs in what governor calls historic investment

Melissa Brown and Frank Gluck of The Tennessean report that LG will invest $3.2 billion in a Tennessee cathode factory.

The C3 Take
  • LG Chem will build a cathode factory for electric vehicle batteries in Montgomery County, Tennessee.
  • Cathodes account for 15% of the cost of an EV and determine the capacity and power of a battery.
  • Construction of the plant is expected to begin in early 2023 with production scheduled for late 2025.

“Shin said the factory is projected to produce 120,000 tons of cathode battery materials annually once fully operational, which is enough to power batteries in 1.2 million electric vehicles.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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