NOVONIX announces $160 million investment to expand its EV-related Chattanooga operations
Good news for Chattanooga and Tennessee’s goal to be the #1 state in the nation for electric vehicle production with yesterday’s announcement from NOVONIX.
The company joined with state and local officials to announce an investment of approximately $160 million and the creation of 290 new jobs. According to the news release accompanying the announcement, NOVONIX plans to purchase and retrofit the former Alstom building, which will be the company’s second facility in Chattanooga.
The more than 400,000-square-foot plant will accommodate a planned 8,000 plus-tonne per year production operation and will join the existing NOVONIX operations located at 353 Corporate Place where the company has been since 2019.
NOVONIX established its anode materials business, PUREgraphite, in March 2017 to develop and commercialize ultra-long-life, high performance anode material for the lithium-ion battery market, specifically for electric vehicles and similar storage applications.