South Korean lead-acid battery maker ATLASBX is investing $75 million to open its first manufacturing plant in the US.
Tennessee state governor Bill Haslam confirmed the firm expected to complete construction of the plant in Clarksville, Montgomery Country, by 2020.
Haslam said around 2.4 million batteries will be produced annually at the plant— which will include a dedicated Absorbent Glass Mat (AGM) line. The development will create more than 200 jobs.
ATLASBX CEO Ho Youl Pae said: “Clarksville’s thriving economy and skilled workforce appealed to our company and led to this decision, which we believe will allow our company to experience significant growth.”
ATLASBX, established in 1944, produces batteries primarily in South Korea— where it has two manufacturing facilities— for cars, light trucks, electric vehicles, commercial vehicles, boats and recreational vehicles.
The company, which has an office in Nashville, is a sister firm of South Korean tyre manufacturer Hankook Tire, which officially opened a manufacturing plant in Clarksville last October.
ATLASBX is one of the leading battery manufacturers in South Korea producing more than 15 million batteries each year.
Economic development chiefs said more than 3,000 Tennesseans are already employed by South Korean companies, including LG, representing a private capital investment in the region in excess of $1 billion.