SEOUL -- South Korea's LG Chem announced on Tuesday that it will invest $3.2 billion to build a key material plant for electric vehicle batteries in the U.S., as the administration of President Joe Biden is keen to strengthen the country's EV sector with tax breaks for buyers.
Automobiles
LG Chem to build $3.2bn EV battery material plant in the U.S.
South Korean company's Tennessee cathode production facility highlights ambitions
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LG Chem CEO Shin Hak-cheol, left, and Tennessee Gov. Bill Lee shake hands on Nov. 21 as they announce a deal on a new factory to be built in Clarksville, Tennessee. (Photo courtesy of LG Chem)
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