Novonix (ASX:NVX) plans to set up its second mass production plant in Chattanooga, Tennessee in the US, according to a Tuesday filing with the Australian bourse.
The execution of the purchase and sale agreement for Novonix Enterprise South's location is subject to approvals of the City of Chattanooga and Hamilton County, per the filing. The completion is dependent on the satisfaction of certain conditions.
The plant is expected to reach a full production capacity of 31,500 tonnes per annum by the end of 2028, the filing said. Combined with Novonix's facility at Riverside in Chattanooga, the company's total production capacity is estimated to reach over 50,000 tonnes per annum by 2028.
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