Another 860 new jobs are coming to Clarksville, as LG Chem has announced plans for a $3.2 billion investment to establish a new cathode manufacturing facility, which will support the electric vehicle battery value-chain in the U.S.
Clarksville-Montgomery County Economic Development Council officials say the facility will be the largest of its kind in the U.S. and is expected to produce roughly 120,000 tons of cathode material annually by 2027, which is enough to power batteries in 1.2 million electric vehicles with a range of 310 miles per charge.
The current plan is for the state-of-the-art facility to be constructed on 420 acres at the Allensworth site in Clarksville. Construction is slated to begin in the first quarter of 2023, and the plant is scheduled to be in production by the second half of 2025.
LG Chem’s anticipated investment of approximately $3.2 billion represents the single largest announced foreign direct investment in Tennessee’s history.