FRANKFORT, Ky. (AP) — Lotte Aluminum Materials USA is planning 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 investing $238.7 million in the Hardin County plant, Gov. Andy Beshear’s office announced last week.
Lotte Chemical announced a joint venture with Lotte Aluminum to produce 36,000 tonnes of cathode foil, used in electric vehicle batteries. The plant will be the company’s first aluminum foil production facility in the United States and is expected to begin operation in 2025, Beshear’s office said.
Ford announced last year that it was building two lithium-ion battery plants in Hardin County, and Envision AESC announced this year that it would build a plant in Bowling Green to produce battery cells and modules for power electric vehicles.
The state has approved a 10-year incentive agreement worth up to $3.3 million in tax incentives for the Lotte Project. The company has also been approved for up to $1 million in sales and tax incentives, the governor’s office said.
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