LG Chem will spend $3.2 billion beginning early next year to build a cathode manufacturing plant in Clarksville, Tenn., which the South Korea-based global manufacturer of chemicals, petrochemicals and advanced materials calls key to meeting its plan to build a $15-billion battery material business to meet global demand for electric vehicles.
The plant will be the largest of its type in the U.S. with a production target of 120,000 tons of cathode material a year by 2027, which would power 1.2 million electric vehicle batteries, each with a range of 310 miles.