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

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! On November 22, according to foreign media reports, LG Chemical, the parent company of LG New Energy, the second largest electric vehicle battery manufacturer in the world, is vigorously expanding its battery materials business and continues to invest heavily to expand the related industrial chain.

On Tuesday, LG Chemical announced on its website that it had signed a memorandum of understanding with Tennessee to invest more than $3 billion in a factory of cathode materials for electric car batteries.

According to LG Chemical's website, their planned plant will be built on 420 acres, or about 2549.5 acres, in Clarksville, Tennessee, which will be the largest cathode material plant in the United States.

LG Chemical has announced that the cathode material plant will begin construction in the first quarter of next year and plans to start mass production in the second half of 2025.

The heavily invested LG Chemical Tennessee cathode Materials Plant also has a considerable planned production capacity, which aims to produce 120000 tons of batteries to assemble 1.2 million electric vehicles with a range of 500km by 2027.

LG Chemical also disclosed on its website that the plant in Clarksville, Tennessee, is a key part of expanding its battery materials business to meet growing battery demand for electric vehicles, and it expects the market for battery materials, including cathode materials, to reach 20 trillion won in 2027, four times the 5 trillion won this year.

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