LG Energy Solution To Build Tennessee Battery Cathode Plant To Supply GM6
South Korean battery company LG Energy Solution has announced that it is investing more than $3 billion to construct a new battery cathode factory in Tennessee. The new factory will supply components for use in GM’s range of Ultium-powered EVs.
Per a recent report from Reuters, the new LG Energy Solution battery cathode factory will begin mass production in the second half of the 2025 calendar year, reaching an annual production capacity of 120,000 tonnes of cathode materials by 2027, or enough material for roughly 1.2 million electric vehicles. By the time it goes online, the plant is expected to create more than 850 new jobs.
The new LG Energy Solution battery cathode plant will produce components for batteries with a nickel, cobalt, manganese, and aluminum chemistry. The battery chemistry will be roughly 90 percent nickel, thus reducing manufacturer reliance on cobalt, a costly material primarily refined and processed in China.
In addition to providing components for new GM Ultium vehicles, LG Energy Solution also provides batteries and battery components to Tesla, Ford, and Hyundai. Last month, the South Korean company raised its 2022 revenue outlook to $18.4 billion, citing a variety of new projects from automakers.
The announcement of the new LG Energy Solution battery cathode factory follows the announcement of new rules regarding EV tax credits rolled into the recent Inflation Reduction Act signed into law by President Biden in August. The new rules include stipulations that specify eligible vehicles must be assembled in North America, as well as incorporate battery materials and components either sourced from supply chains within North America, or from a country with which the U.S. holds an established free trade agreement. New electric vehicles that meet these requirements will be eligible for upwards of $7,500 in tax credit.
As such, LG Energy Solution is also pursuing agreements with mining firms and recycling companies to better support its customers and fulfill the new requirements, per Reuters.
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Get that plant up and running as soon as possible. I need that $7500 tax credit on my Chevy Blazer EV SS.
LG Energy Solution battery cathode factory will begin mass production in the second half of the 2025 calendar year.
Im liking the look of the Equinox more though its smaller. Yes I needed them 2yrs ago…my volt is aging now 9 years old!
Hurry up n get them electric go carts out there mary👎
What planet do you live on? Not earth that’s for sure.
Total B.S. the rebates! Tax payers shouldn’t be required to pay for other peoples cars! I want a $7,500 rebate for my home built in America by Americans! When will the Commie Democrat nonsense of buying votes with taxpayer’s dollars stop? Just like the B.S. cash for clunkers by Democrats! Also the government shouldn’t be paying for charging infrastructure! Let the crooked power companies pay for it! Put the crooked Commie Democrats in prison! I.E. Biden!😎