Duksan Electera America, Inc. officials announced Wednesday that the company will invest $95 million to locate its first North American manufacturing facility in Shelbyville, Tennessee. Duksan Electera is a branch of the South Korean-based Duksan Group, an advanced material manufacturer.
Duksan Electera America, Inc. will locate its first North American manufacturing operations in Shelbyville, Tennessee.
The Korean electrolyte manufacturer will create more than 100 new jobs and invest $95 million in Bedford County. https://t.co/JUlVka0ZGO pic.twitter.com/C3R34dCNwc
— TNECD (@TNECD) July 27, 2022
“Companies choose to call Tennessee home because of our strong business climate and highly skilled workforce,” Governor Bill Lee said in a statement. “I commend Duksan Electera for choosing to locate its first North American manufacturing facility in Bedford County and thank this company for creating opportunities for Tennesseans to thrive.”
According to a press release by the Tennessee Department of Economic and Community Development (TNECD), Duksan Electera America was founded in 2021 as a subsidiary of Duksan Technopia Co., Ltd. Duksan Electera supports its parent company through the manufacturing of electrolytes for the electric vehicle battery sector.
As an electrolyte manufacturer for the electric vehicle battery industry, Duksan Electera’s expansion to Tennessee will position the company to be geographically closer to its core customer base, according to TNECD. The Shelbyville location will be essential to Duksan Electera as the company is responsible for supplying roughly 60,000 tons of electrolytes to battery makers in the Southeastern U.S., TNECD notes.
The company’s new facility will be located at 210 Frank Martin Rd. in Shelbyville and the project will create 101 new jobs in Bedford County over the next five years.
“I would like to take this opportunity to thank Bedford County, the City of Shelbyville and all associated officials for providing Duksan Electera with this exciting opportunity as we take the first steps towards expanding our business in the United States,” Duksan Electera America, Inc. President Suwan Lee said in a statement. “We have chosen the city of Shelbyville and Bedford County not only for its excellent location, but also because of the warm welcome and passion we’ve felt from the City of Shelbyville, Bedford County and the State of Tennessee. The electric vehicle market is a market with a bright future with an expected compound annual growth rate of 32 percent by 2030, and the demand for related materials such as electrolytes is projected to rise accordingly. With our business in this promising market, I hope that we can create a mutually beneficial environment where the community and the company can both continue to grow.”
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Kaitlin Housler is a reporter at The Tennessee Star and The Star News Network.
Photo “Duksan Electera America, Inc. Factory” by TNECD.
Hey 83
It’ll cost abt 3x $$$ more than what we simpleton citizens are told
It’s just crazy to invest in an industry/product that has such a short life span
Eventually more ppl will realize the hazardous environmental repercussions of, electrical grid stress, strip mining, expanded supply chain issues (bc of California suicidal transportation requirements) coal power plants pushed to the brink, lest we forget China. The CCP has the majority of mineral resources tied up.”BELT & ROAD”
That’s all b4 the cost & effects of all those non recyclable batteries piling up
Look at California solar panel fiasco, tens of thousands of solar panels hv reached the 25 yr use limits and there is no realistic recycling plan
But hey atleast selfish-short-sighted-feel-good-abt-me-bipeds can feel like they are saving the planet
Molly – Well said.
I keep asking my state rep – who has a leadership position – why the Economic Development bunch has such a big slush fund and how the legislature controls it. I have not received an answer about the funding amount nor the what the additional powers are but I was informed that the deals and distribution of funds was totally under the control of this out of control bunch.
You may have seen that I harp on this topic repeatedly but I am tired of my tax money going to these giveaways. I never received government funding when I started my business. I did it using my money and sweat.
What did it cost the Tennessee taxpayers to woo this action?