LG Chem pledges more than USD3 billion to build cathode plant in U.S.
2022-11-23 16:18:15 [Print]
On November 22, South Korea's LG Chem reached agreement with the U.S. state of Tennessee to invest more than USD 3 billion to build a battery cathode material plant to meet the rising demand for electric vehicle components. According to LG Chem, the proposed plant, which will produce high-nickel NCMA cathode, is scheduled to begin construction in Q1 2023 with mass production expected in H2 2025, and the company aims to further increase the plant's capacity to 120,000tpa by 2027.
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