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Donghwa Electrolyte is investing more than $70 million to build a production plant in Clarksville, Tennessee. The company makes electrolyte products for smoothening the movement of lithium ions in electronic devices.
Dongwha Electrolyte’s affiliate company, Donghwa Enterprise, said on Monday, Feb. 27, that the company determined the number of investments for its plant in the United States, and its production capacity was established as well.
According to The Korea Times, the firm is constructing a factory on 162,000 square meters of land. In this size, its production capacity has been estimated to be 80,000 tons per year.
The new plant in Clarksville will effectively increase Dongwha Electrolyte's annual production of electrolytes in the U.S. and overseas to 150,000 tons. The company will start construction in the second quarter of this year, and the goal is to finish it by the third quarter of 2024 and subsequently begin mass production by the last quarter of that year.
“We are enthusiastic to participate in this journey of achieving 50% of electric vehicle shares by 2030 together with our customers in North America,” chief executive officer of Donghwa Electrolyte USA Inc., Lee Si Joon, said in a press release. “The 80,000 tons of electrolyte capacity will provide the best electrochemical technologies into the market to achieve this goal. We appreciate the strong support from the State of Tennessee and Montgomery County to realize this investment.”
The CEO added that Donghwa would not stop searching for new investment opportunities in an effort to achieve technological supremacy in the North American market. Meanwhile, Tennessee’s Gov. Bill Lee welcomed the project in the city.
“Tennessee continues to lead the automotive industry, thanks to our unmatched business climate and skilled workforce. I thank this company for choosing Tennessee as its first U.S. location and creating high-quality jobs for Tennesseans across Montgomery County,” the governor said.
