LG Chem is going to build a $3B EV battery cathode factory – the largest in the US
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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Stories we discuss in this episode (with links)
Elon Musk is throwing his weight around Tesla, comes in like a wrecking ball
US wind generation fell in 2023 for the first time since the 1990s
Tesla is already pulling back Supercharger plans after firing team
Volkswagen Group is shelling out close to $1B in bonuses to lean down staff, compete with China
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The US announced two proposals for offshore wind sales that could generate more than 18 gigawatts (GW) of clean energy – enough to power more than 6 million homes.
New US offshore wind auction areas
The offshore wind auction areas announced by the US Department of the Interior and the Bureau of Ocean Energy Management (BOEM) are off the Oregon coast and in the Gulf of Maine. It’s the first in a five-year lease schedule that could see up to 12 separate offshore wind auctions.
The US has already held four offshore wind lease auctions in the New York–New Jersey region, off the Carolinas, and off the Pacific and Gulf of Mexico coasts.
Gulf of Maine
The first-ever offshore wind energy auction in the Gulf of Maine would include eight lease areas off the Maine, Massachusetts, and New Hampshire coasts. The nearly 1 million acres have the potential to generate approximately 15 GW of renewable energy and power more than 5 million homes.
This auction is exciting because BOEM wants to conduct simultaneous auctions for each of the eight lease areas using multiple-factor bidding.
In July 2023, Governor Janet Mills (D-ME) signed legislation to procure up to 3 GW of offshore wind energy in the Gulf of Maine by 2040. Offshore wind is banned in Maine state waters to protect the commercial lobster harvesting industry.
Oregon
The proposed lease sale in Oregon includes two lease areas totaling 194,995 acres – one in the Coos Bay Wind Energy Area and the other in the Brookings Wind Energy Area – which have the potential to power more than 1 million homes with renewable energy. The areas were finalized by BOEM in February.
The Coos Bay WEA is 61,204 acres and located approximately 32 miles from shore. The Brookings WEA is 133,808 acres and approximately 18 miles off the coast.
The state of Oregon has set a goal of achieving 3 GW of offshore wind by 2030.
Due to deep waters, any offshore wind farms in the Gulf of Maine and offshore Oregon will consist of floating wind turbines.
Read more: California exceeds 100% of energy demand with renewables over a record 30 days
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