LG Chem, a leading company based in Korea, has recently commenced construction on their expansive 420-acre site located in Clarksville, just northwest of Nashville. With an investment of $3.2 billion, LG Chem is set to establish state-of-the-art factories for the production of cathode material used in electric vehicle batteries. This compound comprises nickel, cobalt, manganese and aluminum and aims to power over 600 thousand all-electric vehicles with a range exceeding 300 miles.
This remarkable investment by LG Chem marks the largest foreign investment ever made in Tennessee’s history. The company plans to gradually employ around 860 skilled workers with starting wages at $24 per hour while also offering over 200 high-paying jobs that exceed $100 thousand annually.
In its initial phase of construction alone, LG Chem will be utilizing half of its total budget for this project – which is set to commence production by the year 2026 – through JE Dunn Construction Co., one of the most reputable firms specializing in industrial development projects.
The article titled “Battery Supplier Spending $3.2B on Nashville-Area Plants” was originally published on Connect CRE.
