LG Chem to initially inject 938.5 bln won for U.S. cathode plant

December 15, 2023

LG Chem Ltd., South Korea’s leading chemical firm, said Friday it will initially inject 938.5 billion won (US$725 million) in its U.S. subsidiary in charge of building a local cathode plant.

LG Chem plans to hold a groundbreaking ceremony next week for a 1.8 trillion-won cathode plant in Clarksville in the southeastern state of Tennessee amid a rising demand for electric vehicles (EVs), a company spokesperson said.

The timeframe for the plant’s completion and other details will be released Wednesday, he said.

Cathodes are a key battery component consisting of nickel, cobalt, manganese and aluminum. The quality and content of these minerals in lithium-ion battery cells and the manufacturing technology determine the capacity and life of an EV.