- South Korean electrolyte manufacturer to locate first U.S. facility in Tennessee; invest more than $70 million in Clarksville
NASHVILLE, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart McWhorter and Dongwha Electrolyte USA Inc. officials announced today the company will establish manufacturing operations in the U.S., locating its first facility in Clarksville, Tennessee.
Dongwha Electrolyte will invest more than $70 million and create 68 new jobs in Montgomery County.
Located on Guthrie Highway, Dongwha Electrolyte’s Clarksville operations will better position the company to serve electric vehicle lithium battery producers across the Southeast while also supporting its growing customer demand for electrolyte and other electronic materials.
Dongwha Electrolyte USA Inc. is a subsidiary of South Korean-based Dongwha Enterprise Co., Ltd. The company specializes in the production of high-performance and high-stability electrolytes used in lithium batteries by battery-related companies around the globe.
South Korea is one of Tennessee’s top 10 countries for foreign direct investment. South Korean companies have invested $5.4 billion and employ more than 6,600 people across the state.
Dongwha Electrolyte’s investment and decision to locate in Clarksville will further strengthen Tennessee’s position as a leader in the electric vehicle industry. Since 2017, companies have pledged to create more than 12,000 new jobs and invested approximately $16 billion in the state through EV-related projects.
Since 2019, TNECD has supported nearly 20 economic development projects in Montgomery County, resulting in approximately 3,800 job commitments and $4.4 billion in capital investment.
QUOTES
“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.” – Gov. Bill Lee
“We are proud to welcome Dongwha Electrolyte to Tennessee. Companies always have a choice in where they choose to invest and do business, and today’s announcement highlights another significant global brand that has chosen to place its trust in our state and exceptional business climate, which will further amplify Dongwha Electrolyte’s success in the electric vehicle industry.” – TNECD Commissioner Stuart McWhorter
“We are enthusiastic to participate in this journey of achieving 50-percent of electric vehicle shares by 2030 together with our customers in North America. 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.” – SiJoon Lee, group CEO of Dongwha Electrolyte USA Inc.
“Landing Dongwha Electrolyte is part of our commitment to adding highly-skilled, well-paying jobs to our community. They will be a key component in EV battery production in support of LG Chem. We look forward to welcoming them, their families, and their involvement in Montgomery County.” – Montgomery County Mayor Wes Golden
“We welcome Dongwha Electrolyte as the newest member of our manufacturing community. Our area is becoming a hub for the Electric Vehicle equipment industry. More than 60 jobs, paying a high wage will help our citizens take care of their families. We look forward to a long and productive relationship with this company and know they will be very successful here.” – Clarksville Mayor Joe Pitts
“TVA and Cumberland Electric Membership Corporation congratulate Dongwha Electrolyte on its decision to establish its first U.S. manufacturing facility in Clarksville. Helping to attract new jobs and investments to the region is fundamental to TVA’s mission of service. We are proud to carry out that mission in partnership with the Clarksville-Montgomery County Industrial Development Board and the Tennessee Department of Economic and Community Development and look forward to Dongwha Electrolyte’s future business success in the Valley.” – John Bradley, TVA senior vice president of Economic Development
“It’s great news that Dongwha Electrolyte is making a more than $70 million investment in Montgomery County. Companies are realizing that Tennessee is a great place to live and do business. Our citizens have an incredible work ethic, and our state is committed to developing the best trained workforce in the world. Thank you to the Tennessee Department of Economic and Community Development for bringing this company and opportunity to Montgomery County.” – Sen. Bill Powers (R-Clarksville)
“Companies continue to invest in Tennessee because of the skilled workforce, low tax rate and great quality of life that our state has to offer. This new manufacturing facility in Clarksville will further strengthen our economy while creating more job opportunities for residents. I congratulate Dongwha Electrolyte on this exciting announcement and look forward to the successful future the company will have in Montgomery County.” – Rep. Curtis Johnson (R-Clarksville)
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies that help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Tennessee, the department seeks to attract new corporate investment to the state and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter, Instagram and LinkedIn. Like us on Facebook. Subscribe to our YouTubechannel.
TNECD Media Contact
Jennifer McEachern
Director of Communications and Marketing
(615) 336-2689
[email protected]
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