Clarksville getting $3.2B investment for a plant that manufactures EV battery parts
LG Chem of South Korea announced plans on Monday for a $3.2 billion plant in Clarksville, making a key part for electric vehicle batteries. The cathode manufacturing facility is supposed to create 850 jobs.
Gov. Bill Lee says in a statement this is the largest foreign investment ever made in Tennessee and complements nearly $13 billion of investment in electric vehicle production in the last five years, making Tennessee the top state in the Southeast for EV manufacturing.
Nissan started building EVs and batteries in Smyrna a decade ago. VW is now making electric cars in Chattanooga, and Ford is constructing a $5.6 billion plant to produce electric trucks outside Memphis.
“As we continue our efforts to attract companies in the automotive industry, we are focused on supporting companies that boost Tennessee’s presence in the EV space,” Tennessee economic development commissioner Stuart McWhorter said in a prepared statement.
The LG plant will be built at the 420-acre Allensworth site in Clarksville. Construction is scheduled to start in early 2023 and be complete by the end of 2025.
In announcing the new plant, the Tennessee Department of Economic and Community Development did not disclose what kind of government incentives were promised to the company for its commitment.