LG Chem Begins Construction of Largest Cathode Plant in US
The groundbreaking ceremony marked the initiation of a strategic endeavor to locally produce cathode materials tailored for North American electric vehicles.
December 20, 2023. By Abha Rustagi
The groundbreaking ceremony marked the initiation of a strategic endeavor to locally produce cathode materials tailored for North American electric vehicles (EVs) and foster collaboration across the development and supply chain.
LG Chem's CEO Shin Hak-cheol expressed confidence in the Tennessee plant, stating, "With the Tennessee cathode material plant as the center, LG Chem will undoubtedly leap to become the top cathode material supplier in North America."
Emphasizing the vision to establish a resilient supply chain, he added, "LG Chem will execute the vision to become the world's leading comprehensive battery material company."
Tennessee Governor Bill Lee praised LG Chem for its investment in the state, highlighting the pro-business environment and skilled workforce that make Tennessee an attractive destination for global companies.
LG Chem's investment of around KRW 2 trillion (USD 1.6 billion) in the first phase will result in the construction of a cathode plant with an annual capacity of 60,000 tons, making it the largest facility of its kind in the United States. The plant aims to produce cathode materials for approximately 600,000 high-performance pure electric vehicles annually.
Scheduled to begin mass production of NCMA (Nickel, Cobalt, Manganese, Aluminum) cathode materials in 2026, the Tennessee plant will diversify LG Chem's product portfolio and expand production capacity to meet growing demand.
The company has already secured long-term supply agreements with industry giants, including General Motors (GM) and Toyota.
Tennessee's strategic location offers logistical advantages for customer deliveries and raw material imports, making it an ideal base for LG Chem to communicate with customers and produce customized cathode materials optimized for North American EVs.
LG Chem is exploring collaborations with U.S. battery recycling firms and aims to power the plant with 100 percent renewable energy, including solar and hydro power, in partnership with local energy providers.
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