TECH - LG Chem Plans To Invest $1.6M Initiates Construction Of Biggest Cathode Plant In US | Benzinga
South Korean firm LG Chem has embarked on the creation of an advanced cathode facility in Tennessee, which is expected to be the largest in the U.S.
What Happened: Recently, the groundbreaking ceremony for LG Chem‘s new cathode plant took place in Tennessee, as reported by Teslarati. The facility is estimated to be the biggest in the United States, producing mass quantities of NCMA (Nickel, Cobalt, Manganese, Aluminum) cathode materials.
The South Korean firm plans to invest $1.6 billion in the project’s initial phase, which will span 1.7 million square meters in Clarksville. The first phase will generate 60,000 tons of cathode material per year, with production anticipated to start by 2026.
Tennessee’s Governor, Bill Lee, voiced his support for the project, asserting that the state’s pro-business environment would be beneficial. He welcomed LG Chem’s investment in Tennessee.
Besides, LG Chem ...