Lotte Aluminum Materials USA plans an aluminum foil manufacturing operation to serve the electric vehicle battery industry in Kentucky and is expected to create 122 full time jobs.
The company is planning to invest $238.7 million in the plant in Hardin County. Lotte Chemical announced a joint venture with Lotte Aluminum to produce 36,000 tons of cathode foil, used in electric vehicle batteries. The plant will be the company’s first aluminum foil facility in the U.S. and is expected to begin operation in 2025.
Last year Ford announced its building two lithium-ion battery plants in Hardin County and Envision AESC and said this year that it will build a plant at Bowling Green to produce battery cells and modules to power electric vehicles.
The state approved a 10-year incentive agreement worth up to $3.3 million in tax incentives for the Lotte project. The company was also approved up to $1 million in sales and use tax incentives, the governor’s office said.
The need for electric car batteries using raw materials such as lithium and aluminum is growing rapidly as we progress towards electrification.
Manufacturing operations are appearing all over the states and it is now a key element of the mobility industry to ensure that these production plants are sustainable and serve a better future.