Battery Materials Supplier Investing $160 Million to Revamp Idle Tennessee Factory

URLhttps://www.thomasnet.com/insights/battery-materia
SourceThomas Insights
Date Published07/12/2021
Author NameMike Hockett
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name NOVONIX
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):290
Year reshoring announced:2021
Year reshoring implemented or to be implemented:2023
Domestically, the work will be done:In-house
Capital investment ($):160
City reshored to:Chattanooga
State(s) reshored to:TN
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredlithium-ion batteries for electric vehicles
What domestic positive factors made reshoring more attractive?Infrastructure, Lead time/Time to market, Under-utilized capacity
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