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LG Chem has announced it should assemble a cathode manufacturing plant in Clarksville, Tennessee. The $3.2 billion challenge is anticipated to create 860 jobs. Hourly wages will begin at $24, and a few 200 staff will make an annual wage of $100,000.
Cathode supplies produced on the 420-acre web site will embody cobalt, nickel, aluminum, and manganese. The power plans to provide 120,000 tons of cathode materials per yr by 2027. In keeping with LG Ghem, this quantity would energy batteries in 1.2 million electrical automobiles with a 310-mile vary.
Building will begin subsequent yr, and the corporate expects mass manufacturing to start in 2025. The manufacturing facility’s manufacturing course of can be automated, and every line will be capable of produce over 10,000 tons of cathode materials. The event is part of LG Chem’s effort to extend its battery supplies enterprise by roughly $11 billion within the subsequent 5 years.
LG Chem mentioned it selected Tennessee for a brand new location due to its shut proximity to clients, uncooked supplies transportation advantages, and the cooperation of native and state governments. The investment by the South Korean firm could be the biggest overseas direct funding in Tennessee’s historical past.
Division of Financial and Neighborhood Growth Commissioner Stuart McWhorter mentioned the choice to construct the power represents Tennessee’s profile “as a hub for U.S. and international firms.”
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