South Korean battery materials company LG Chem has signed an MoU with the state of Tennessee to construct a cathode production facility in Clarksville. The memorandum includes a provisional investment of USD3.2 billion to build the largest manufacturing plant of its kind in the US. Construction is expected to commence in the first quarter of 2023, with mass production expected by the second half of 2025. The facility will use exclusively solar and hydroelectric power to produce NCMA cathode materials for use in lithium-ion EV batteries. LG Chem reports the facility will target 120,000 tons of cathode material to be produced annually by 2027.
The full article is available to Rho Motion Members on the Membership Platform. If you are not a Member and would like to find out more, click here.
Image Credit: Adobe Stock