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| ▲ This 3-D bird's-eye rendering shows the new cathode plant to be built by LG Chem Ltd., South Korea's top chemical maker, in the U.S. state of Tennessee by 2025, as provided by the company on Nov. 22, 2022. (PHOTO NOT FOR SALE) (Yonhap) |
LG Chem-US cathode plant
LG Chem to build 1st U.S. cathode plant in Tennessee
SEOUL, Nov. 22 (Yonhap) -- LG Chem Ltd., South Korea's top chemical producer, said Tuesday it will build its first U.S. cathode plant in Tennessee as it accelerates its overseas push in North America to respond to the growing demand for electric vehicle (EV) components.
LG Chem will spend at least US$3 billion for the project to build the facility capable of producing 120,000 tons annually of the critical component that determines the power of the battery-grade lithium-ion cells, an enough supply for about 1.2 million EVs, the Seoul-based company said in a release.
The factory will be located in Clarksville, on a plot of land stretching 1.7 million square meters.
The construction will start in the first quarter of next year, and the plant will go into operation at the end of 2025.
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