CLARKSVILLE, Tenn. (AP) — Tennessee officials have announced plans to invest $3.2 billion to develop a cathode materials plant for electric vehicle batteries.
The manufacturing facility will be built in Clarksville, Tennessee and create more than 850 jobs, according to a memorandum of understanding signed by the state of Tennessee and South Korea-based LG Chem.
Construction will begin next year with the goal to start mass production in 2025.
Once operational, the goal is to produce 120,000 tons of cathode battery materials annually — or enough to power 1.2 million electric vehicle batteries.