LG Chem today announced that it has signed a memorandum of understanding with the state of Tennessee to build a $3 billion cathode factory for electric vehicles.
The new plant, which will be sited in Clarksville, will be the largest of its kind in the US. It will sit on 420 acres and is expected to produce 120,000 tons of cathode material annually by 2027. That’s enough to power batteries in 1.2 million EVs with a range of 310 miles per charge.
LG Chem said it chose Tennessee because of its proximity to key customers, ease of transporting raw materials, and cooperation from state and local governments.
It also cites the passage of the Biden administration’s Inflation Reduction Act (IRA) as a catalyst for the new factory, which will see the creation of 850 jobs.
LG Chem said that the Tennessee site will function as a supply chain hub, where material and recycling partners work together to supply global customers such as Tesla and GM.
The Clarksville factory will produce advanced NCMA – nickel, cobalt, manganese, aluminum – cathode materials for next-gen EV batteries with improved battery capacity and stability.
NCMA cathode materials are among the most critical ingredients for determining the battery capacity and life of electric vehicles. The company’s battery recycling partner is Li-Cycle.
The Tennessee plant will feature LG Chem’s most advanced production technology, including the ability to produce more than 10,000 tons of cathode material per line. LG Chem has already successfully applied this technology in its cathode factory in Cheongju, South Korea.
The company also plans to utilize its smart factory technology in Tennessee to automate the entire production process and establish a quality analysis and control system.
Construction of the factory will begin in the first quarter of 2023, with mass production to start in the second half of 2025. LG Chem says the new factory will run completely on solar and hydroelectric power.
The Tennessee site will play a critical role in Seoul-headquartered LG Chem’s strategy to increase its battery materials business, including cathode material fourfold from Korean won ₩5 trillion in 2022 to ₩20 trillion by 2027.
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Anker’s SOLIX Fan Fest clearance deals drop the 535 PowerHouse LiFePO4 station back to $299 low, more
As part of its ongoing Fan Fest Sale through September 21, Anker is offering up to $700 in clearance sale discounts on a lineup of legacy power stations for your personal device/appliance backup. Among the bunch, we spotted the tried-and-true Anker SOLIX 535 PowerHouse Portable Power Station at $299 shipped, which beats out Amazon’s pricing by $50. While it may carry a $550 MSRP, it keeps down at $500 when in full at Amazon, with discounts over 2025 mostly keeping the costs between $350 and $330, with one previous fall to $299 at the top of the month. You’re looking at another chance to pick it up at its lowest tracked price, giving you $251 in savings off its MSRP. Head below to learn more about this model and the others currently seeing these clearance discounts.
When you don’t want to lug around a larger power station or any expanded setup that you’d prefer to keep at the ready at home, Anker’s 535 PowerHouse station is a great alternative that provides a compact but ample 512Wh LiFePO4 battery capacity. Coming with a 5-year warranty (and rated to last a minimum of 10 years), this model delivers up to 500W of output power through its 9 port options: four AC outlets, three USB-A ports, a USB-C port, and a car port. You have plenty of recharging options for the station itself, including 120W speeds via the USB-C port, the included adapter, the car port, or when utilizing its maximum solar input.
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Anker’s SOLIX Fan Fest clearance deals:
Save up to $500 on ECOVACS’ three Goat RTK and LiDAR robot mowers starting from a new $841 low
Amazon has been rolling out plenty of new low prices this morning, and the trend is continuing with the ECOVACS Goat O1000 RTK Robot Lawn Mower at $841.20 shipped, which beats out the brand’s direct website pricing by $59. It usually goes for $1,000 at full price since hitting the market back in spring, which we’ve seen mostly dropped down to $900 with discounts, though recently things have gone as low as $850 a few times over the summer months. Today’s deal takes the costs lower than ever as $159 is cut from the tag for the best new price we have tracked.
Don’t miss out on Anker’s popular PowerCore Reserve 60,000mAh power station while it’s back at $80
Through the official Amazon storefront, Anker is giving folks another chance at its PowerCore Reserve 60,000mAh Power Station for $79.99 shipped in both of its colorways, which beats out the brand’s direct website pricing by $67. Without discounts, you’d be shelling out $150 in total for this popular model, with the discounts we have seen often dropping the price between $110 and $90, with a few falls lower to $80, and a one-time drop to its $75 low back during July’s Prime Day event. Outside of that short-lived Prime Day pricing, you’re looking at the best price we have seen repeat over the year, giving you $70 in savings and landing it back at its second-lowest overall price a month after its last appearance.
Get low-cost soil from food waste without the odors using Govee’s Smart Electric Composter at a new $217 low
By way of its official Amazon storefront, Govee is offering the best price yet on its Smart Electric Kitchen Composter at $216.59 shipped, after clipping the on-page 20% off coupon. While it carries a $500 MSRP, we usually see it at Amazon between $427 and $455 when at full price, which has mostly been dropped between $350 and $300 with discounts. Since July’s Prime Day event the price has come down further, with a short-lived fall to $255 during that 4-day sale, before keeping at $285 and then $271 since. Today’s deal is bringing things lower than ever, as the 52% markdown cuts up to $238 off the tag for the best price we have tracked – which even beats out the $245 rate back from when it launched in October 2024.
Worx’s Nitro Hydroshot 710 PSI portable pressure washer with a draw hose hits $130 low for second time
Over at Amazon you can find the Worx Nitro Hydroshot 20V 710 PSI Light-Duty Electric Pressure Washer down at $129.99 shipped, which matches the price we’re seeing at Best Buy while this tool is a part of its Deals of the Day promotions. This portable cleaning option carries a $210 MSRP, though we usually see it keep down near $170 at Amazon, with prices having gone as far as a one-time drop to $137 in April and a one-time $130 low last month, while otherwise keeping the costs above $140 until today. Now, you can pick it up with $40 cut from the going rate (and $80 off the MSRP) for a second chance at the best price we have tracked.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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Cadillac’s new luxury electric SUVs may offer even more driving range than the official numbers suggest. Although they boast an EPA-estimated driving range of over 300 miles, the latest models drove well over that.
Cadillac’s Optiq, Vistiq electric SUVs top range estimates
Cadillac is making a comeback thanks to its new EV lineup. The luxury brand had its best first-half sales this year since 2008.
After launching a series of new electric SUVs earlier this year, Cadillac claims to be the leading luxury EV brand in the US this year. But that doesn’t include Tesla due to its “pricing structure,” the company said.
Cadillac now offers an electric option for nearly every segment, including the entry-level Optiq, midsize Lyriq, three-row Vistiq, and even bigger Escalade IQ and IQL. It also offers the high-performance Optiq V and Lyriq V, plus the ultra-luxury Celestiq.
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Much of the brand’s success is thanks to GM’s Ultium platform, which underpins all Chevy, GMC, and Cadillac electric vehicles.
The platform provides most models with an EPA-estimated driving range of at least 300 miles. According to Edmunds’ latest EV range test, Cadillac’s newest electric SUVs may offer more range than the numbers say.
Cadillac Optiq EV (Source: Cadillac)
Powered by an 85 kWh battery, the Cadillac Optiq Sport 2 trim has an EPA-estimated driving range of 302 miles, but Edmunds drove it an impressive 339 miles, or about 12% more. It also had a better overall efficiency rating at 29.8 kWh of energy used per 100 miles, compared to the EPA rating of 33 kWh per 100 miles.
The Cadillac Vistiq 900 E4 also beat its official rating. Drawing power from a massive 102 kWh battery, the Vistiq has an EPA range of 305 miles, but the three-row electric SUV drove 334 miles during the test, or 9% more. It used 36.6 kWh of energy per 100 miles.
2026 Cadillac Vistiq electric SUV (Source: GM)
With both electric SUVs driving over 330 miles during real-world range tests, the Optiq and Vistiq are both great options for buyers looking for an efficient luxury electric SUV.
Measuring 19″″ in length, 75″ in width, and 65″ in height, the Cadillac Optiq is about the same size as the Tesla Model Y (187″ in length x 76″ in width x 64″ in height). It starts at just $54,390.
2026 Cadillac Optiq EV (Source: Cadillac)
The three-row Vistiq, slotted in between the Lyriq and Escalade EQ, is equipped with dual motor AWD as standard and starts at $79,090.
With the $7,500 federal EV tax credit set to expire at the end of September, Cadillac is offering a few deals that may be worth checking out. Most Cadillac models are currently eligible for a credit of at least $10,000. The 2025 Optiq is listed for lease as low as $449, while the larger 2026 Vistiq is promoted at $749 per month.
Ready to try one out for yourself? We can help you get started. You can use our links below to find Cadillac’s electric SUVs in your area.
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Tesla’s Chairwoman of the Board, Robyn Denholm, says that voting for Elon Musk’s compensation package of up to $1 trillion is essentially voting for Tesla’s future.
She insists only Elon Musk can make this future come true without ever explaining why.
Tesla’s board is virtually always silent. They rarely, if ever, comment about anything unless it’s time to get Elon Musk paid.
Then, they, especially chairwoman Robyn Denholm, come out of their cave to sell to shareholders that Elon Musk, the wealthiest man in the world and already the biggest Tesla shareholder, should receive the biggest compensation package ever – beating the next biggest by a factor of 10.
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They recently gave Musk a $29 billion package without obtaining shareholder approval, and now they are proposing a new one that could be worth around $1 trillion in stock options for Musk if all the milestones are met.
Denholm, who rarely, if ever, gives interviews, is now making the rounds to try to sell the package to shareholders.
Tesla’s board is even buying Google ads to sell the package for shareholders, despite the automaker rarely using advertising to sell its own products.
In an interview with Bloomberg, Denholm claimed that Musk is the only one who can execute Tesla’s mission, and they believe that even though he is the single person who benefits the most from Tesla’s stock right now, he still needs to be motivated with more stock options:
AI and autonomous is at the front and center of that, both in the vehicles but also in our Optimus lineup and what we’re doing from a robotics perspective as well. And so, having the Board’s responsibility is to look at who the CEO is for the next period of time, and we believe that Elon is the right CEO for Tesla over this transformative period of time. And our view is he’s a generational leader – there aren’t any other people out there like Elon who can actually lead the Company over this next decade or so. And so, once you decide who the leader should be, you need to put in place the compensation package to incent and motivate him to actually deliver against the ambitious goals.
When asked about Musk’s political activities, Denhom basically said that it is not the board’s business and they only judge him on the company’s performance:
Yeah, I mean, what he does from a personal perspective in terms of his political motivations, et cetera, is up to him. Clearly, from our perspective as a Board, we’re measuring him on results and measuring him on what he does as the CEO of Tesla. Our view is he’s delivered big time in the past, and we look forward to him doing that in the next era.
However, she didn’t explain what he has delivered lately.
Tesla’s vehicle sales have been in decline for two years now. Earnings have been dropping for three years. Tesla’s autonomous driving effort is years behind where Musk claimed it would be since 2018.
The only thing that is up is Tesla’s stock, and it appears to be up on people believing what Musk is claiming, despite a long history of being consistently wrong.
Yet, Denhom insists that voting for Musk’s compensation package is a vote on Tesla’s future:
I think the really key thing is that shareholders get to vote on the future of the Company, not just on a compensation package. The compensation package is the instantiation of the goals and ambition – the super ambitious goals that we have as a company. So, I think with this proposal, it’s really up to shareholders what the future of Tesla looks like.
Tesla shareholders will vote on November 6 at the annual shareholders meeting.
Electrek’s Take
The board has been selling hundreds of millions of dollars’ worth of Tesla stock over the last year.
They want to give Elon Musk ridiculous compensation because he also allowed them to give themselves excessive compensation, to the point where they had to settle with shareholders and return almost $1 billion worth of excessive board compensation. It’s pathetic.
It’s all about greed. It’s no longer about the mission.
Forget about the clear fact that Tesla’s CEO is losing his mind and using his platform to stoke political violence almost as a full-time job for the last 2 weeks, the compensation also doesn’t make sense on a purely sensible basis.
Musk is being greedy compared to the average human, but he is also being greedy on a billionaire scale.
In comparison, Jeff Bezos never took stock options during his tenure as CEO of Amazon because he was already fully motivated to perform at the company, as he stood to benefit the most from the stock:
Jeff Bezos explains why he didn’t take additional equity building Amazon
Jeff is asked why he only paid himself $80,000 per year and never took additional equity during his tenure as CEO of Amazon. He responds:
Musk is in the same situation, but he apparently needs another trillion-dollar worth of stock to be motivated.
If the problem is the control of the company through his stake, which is obviously nonsense as he has complete control over Tesla with just 15% of the share, Tesla could do the same as Ellison with Oracle:
Why don’t $TSLA shareholders push for that instead of giving Elon more shares?
Oh that’s right, it’s because Tesla’s earnings are in free fall (other than Q3 being an exception due to tax credit end) and therefore, Tesla can’t do share buybacks in a meaningful way. https://t.co/moMFjJ02Ar
Ellison managed to increase his ownership of Oracle through share buybacks that helped shareholders instead of diluting the stock like Musk’s compensation package.
In short, there are numerous ways to achieve what Musk claims to accomplish while benefiting all shareholders equally, and him more proportionally as the biggest shareholder, but he chose to push for the option that results in him getting a disproportional benefit.
That’s called greed. Pure and simple.
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