Novonix (NVX) said late Monday that it plans to sign a purchase and sale agreement for the land to be used for its second mass production plant with the City of Chattanooga, Tennessee and Hamilton County, Tennessee.

The execution of the agreement is subject to approvals of the City of Chattanooga and Hamilton County, according to the company.

Novonix said it expects the plant, Novonix Enterprise South, will reach full production capacity of 31,500 tonnes per annum by the end of 2028 and to create 500 full time jobs.