FRANKFORT, Ky. (AP) — Lotte Aluminium 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 investing $238.7 million in the plant in Hardin County, Gov. Andy Beshear’s office announced.
Lotte Chemical announced a joint venture with Lotte Aluminium 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 United States and is expected to begin operation in 2025, Beshear’s office said.
Ford announced last year it is building two lithium ion battery plants in Hardin County, and Envision AESC said this year 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 for up to $1 million in sales and use tax incentives, the governor’s office said.