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[Alpha Biz=(Chicago) Reporter Paul Lee] The LG Chem has begun construction of the largest cathode material plant in the United States.
The LG Chem announced on the 20th (local time) that it held a groundbreaking ceremony for the bipolar material plant in Clarksville, Montgomery County, Tennessee, USA. It has been more than a year since the announcement of the signing of a business agreement for the construction of a bipolar material plant in November last year.
Targeting the electric vehicle battery market in North America, the company plans to invest about 2 trillion won in 1.7 million square meters of the Tennessee plant to produce 60,000 tons of anode materials annually from 2026. This is enough to produce 600,000 batteries for high-performance electric vehicles. The production of bipolar materials will increase according to market demand.
In particular, the company plans to receive minerals from countries that have signed free trade agreements (FTA) with the U.S. to help customers meet the U.S. Inflation Reduction Act (IRA)'s standards for subsidies for electric vehicles.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
