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On November 22, LG Chem signed an MOU with the State of Tennessee, and will spend more than $3 billion to build a cathode material factory
in the United States.
in the United States.
At the signing ceremony, CEO Xin Xuezhe said, "As a key part of LG Chem's future growth momentum, the Tennessee cathode material plant will become the core base
for the next-generation battery materials project.
We will actively respond to the rapidly changing battery materials market and global customer needs, and become the world's leading integrated battery materials company
.
”
for the next-generation battery materials project.
We will actively respond to the rapidly changing battery materials market and global customer needs, and become the world's leading integrated battery materials company
.
”
Construction of the plant will begin in the first quarter of next year, and mass production
is expected to begin by the end of 2025.
After that, the company will add a production line to an annual production capacity
of 120,000 tons by 2027.
Its production capacity is equivalent to approximately 1.
2 million high-performance electric vehicles (EVs) per year for a range of 500 kilometers, providing the cathode material
required.
is expected to begin by the end of 2025.
After that, the company will add a production line to an annual production capacity
of 120,000 tons by 2027.
Its production capacity is equivalent to approximately 1.
2 million high-performance electric vehicles (EVs) per year for a range of 500 kilometers, providing the cathode material
required.
LG Chem plans to actively respond to changes in the global battery materials market by investing in the cathode material plant, and LG Chem is expected to receive tax incentives
from the US government.
In addition, LG Chem is promoting raw material supply chain cooperation with mineral and recycling companies to help global customers meet the subsidy standards
related to electric vehicles.
from the US government.
In addition, LG Chem is promoting raw material supply chain cooperation with mineral and recycling companies to help global customers meet the subsidy standards
related to electric vehicles.
LG Chem is steadily increasing its production capacity to respond to the demand for cathode materials from global electric vehicle companies and battery companies, and plans to quadruple its battery materials sales from approximately 5 trillion won in 2022 to approximately 20 trillion won by 2027
.
.
The annual production capacity of a single line is 10,000 tons, and 100% renewable energy is used
The Tennessee plant will produce high-nickel NCMA (nickel-cobalt-manganese-aluminum) cathode materials
for next-generation electric vehicle batteries that LG Chem is vigorously developing.
NCMA cathode materials combine LG Chem's excellent material technology with excellent stability and output by increasing the nickel content that determines energy density, and applying aluminum with high application stability
.
for next-generation electric vehicle batteries that LG Chem is vigorously developing.
NCMA cathode materials combine LG Chem's excellent material technology with excellent stability and output by increasing the nickel content that determines energy density, and applying aluminum with high application stability
.
At the same time, the production line has also improved the firing process design technology using thermal energy, increasing the production capacity of a single line to more than 10,000 tons/year
.
With a high level of productivity in the industry, LG Chem's fourth plant for cathode materials in Cheongju was previously the first in the world
.
In addition, LG Chem plans to apply smart factory technology at its Tennessee plant to automate all production processes and establish a quality analysis and management system to improve the efficiency
of plant operations.
.
With a high level of productivity in the industry, LG Chem's fourth plant for cathode materials in Cheongju was previously the first in the world
.
In addition, LG Chem plans to apply smart factory technology at its Tennessee plant to automate all production processes and establish a quality analysis and management system to improve the efficiency
of plant operations.
In order to be the first to respond to the demand for renewable energy from customers such as batteries and electric vehicles, LG Chem will cooperate with the Tennessee power supplier, and the cathode material plant will be 100% powered by renewable energy
such as solar and hydropower.
such as solar and hydropower.
