LG Chem to invest $3.2B in Clarksville battery operation

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.