Shulou(Shulou.com)11/24 Report--

CTOnews.com, Nov. 14 (Xinhua) according to TheElec, LG Chemical is in the final steps of approving its spending plan to build a battery cathode plant in the United States.

The company is likely to build a plant in Clarksville, Tennessee, where its subsidiary LG Energy Solutions is building two plants through a joint venture with General Motors.

The project, internally known as Columbus, is likely to build a factory in Clarksville, which has an area of about 169 million square meters.

LG Chemistry has not yet decided how much it will cost. However, considering that the positive plant needs to produce enough batteries to support the batteries produced by the three plants, its annual production capacity adds up to 120GWh, so the expenditure is likely to reach billions of dollars.

Clarksville and Tennessee are seeking $3.2 billion (22.752 billion yuan) for undesignated projects, which are likely to be LG chemistry projects.

CTOnews.com learned that in July, the South Korean chemical giant signed a comprehensive agreement with General Motors to supply more than 950000 tons of cathode materials by 2030, enough to support 5 million electric vehicles.

At the same time, LG Chemical is planning to mainly produce high-nickel cathode. This means that it is possible to produce NCM622 (nickel, cobalt and manganese in a ratio of 6 to 2) and NCMA positive electrodes.

LG Chemical may have as many as 12 production lines, each with an annual capacity of 10,000 metric tons.

The company currently has a total global capacity of about 80,000 metric tons and plans to expand it to 260,000 metric tons by 2026.

The company is also developing cobalt-free and single crystal positive electrodes.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.