The Look in Brief

LG Chem to invest $3.2B in Clarksville battery operation

By: - November 22, 2022 6:01 am
CHICAGO, IL - JULY 21: A fleet of Rivian Electric Delivery Vehicles (EDV) are seen connected to electric chargers during a launch event between Amazon and Rivian at an Amazon facility on July 21, 2022 in Chicago, Illinois. This unveiling is major milestone towards Amazon's goal of having 100,000 Rivian EDVs on the road by 2030, and Amazon has made a Climate Pledge commitment to reach net-zero carbon by 2040 and has also pledged to guarantee 50% of all shipments reach net zero carbon by 2030. (Photo by Mustafa Hussain/Getty Images)

A fleet of Rivian Electric Delivery Vehicles (EDV) are seen connected to electric chargers (Photo by Mustafa Hussain/Getty Images)

LG Chem and state officials announced Monday the South Korean company will invest $3.2 billion in a new cathode manufacturing facility in Clarksville to support the production of electric battery vehicles.

The project is expected to create 860 new jobs in Montgomery County and represents the largest single foreign direct investment in state history, according to state officials.

The plant is slated to produce about 120,000 tons of cathode material annually by 2027, enough to power batteries for 1.2 million electric vehicles with a range of 310 miles per charge, according to a state release.

Construction is scheduled to begin on 420 acres at the Allensworth site in Clarksville in the first quarter of 2023, with production starting in the second half of 2025.

Officials said the company received a state incentive package but declined to give details until the State Funding Board approves the deal.

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Sam Stockard
Sam Stockard

Sam Stockard is a veteran Tennessee reporter and editor, having written for the Daily News Journal in Murfreesboro, where he served as lead editor when the paper won an award for being the state's best Sunday newspaper two years in a row. He has led the Capitol Hill bureau for The Daily Memphian. His awards include Best Single Editorial and Best Single Feature from the Tennessee Press Association.