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☆ Office landlord offers glimpse of what’s to come
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, July 24 (Reuters Breakingviews) - Piedmont Office Realty Trust (PDM.N) is sifting through the rubble. The $910 million owner of high-quality office buildings in Boston, Dallas and beyond just borrowed at 9.25%, more than twice the interest rate it’s replacing. It’s an ominous sign for U.S. office landlords facing $60 billion of debt maturing at the end of 2023 and 2024, per data miner RCA. Office prices have fallen so much that cap rates are approaching 10%, according to Jonathan Litt, founder of activist hedge fund Land and Buildings Investment Management. Pricier debt means less income, but if rents have stabilized and interest rates keep rising, Piedmont was wise to start reconstructing its balance sheet sooner rather than later.

Persons: Brent Smith, Jonathan Litt, Lauren Silva Laughlin, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Realty Trust, Refinitiv, RCA, Buildings Investment Management, Twitter, Thomson Locations: Boston, Dallas, Piedmont, Spain

☆ EV growth is increasing the need for lithium supply, says Piedmont Lithium's Keith Phillips
▼ + stars: | 2023-07-17 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEV growth is increasing the need for lithium supply, says Piedmont Lithium's Keith PhillipsPiedmont Lithium's Keith Phillips joins 'The Exchange' to discuss growing lithium mining in America, the varying types of lithium deposits and the growing need for lithium supplies.

Persons: Keith Phillips Locations: America

☆ Michelin starred hotels around the world, from Italy to Vietnam
▼ + stars: | 2023-07-10 | by ( Chris Dwyer | ) edition.cnn.com time to read: +24 min

Courtesy CoteArgentinian maestro Mauro Colagreco was the first ever non-French chef to earn three Michelin stars in France, at Mirazur on the famed French Riviera. Gastronomic restaurant Plénitude by chef Arnaud Donckele marked an extraordinary debut by being awarded the pinnacle of three Michelin stars just six months after opening. Since 2021, they have held three Michelin stars for their cuisine, which celebrates peerless produce from their sustainable farm just seven miles away. Lung King Heen, Four Seasons Hong KongLung King Heen was the first Chinese restaurant to hold three Michelin stars. Capella Hotels & ResortsFinally to Vietnam, where Michelin published its first ever guide in June 2023.

Persons: Winston Churchill, Albert Einstein, it’s, Heiko Nieder, carne ”, Ben Benoliel, Alex Nietosvuori, Ally Thompson, Hjem, morel, Cigliutti Enrico Crippa, Piazza, Crippa, Ferran Adrià, Mauro Colagreco, Côte, Raymond Blanc, Paul Wilkinson Chef Raymond Blanc, Lady Gaga, Queen Elizabeth II, ”, ” Blanc, Luke Selby, Plénitude, Cheval Blanc, France Plénitude, Sylvie Becquet, Blanc Paris, chef Arnaud Donckele, Chopin, Maxime Frédéric –, Aled Williams, Gareth Ward, Il Ristorante Niko Romito, Ristorante Niko Romito, Niko Romito, Romito, Giacomo Amicucci, Kyle, Katina, Michel Bras, Le Saint, Martin, Château Saint, France Le Saint, Chef Jean, Luc Lefrançois, Saint, –, sommelier Vincent Arhuro, King Heen, Hong Kong Lung King Heen, Heen, who’s, Chan Yan Tak, Rome Cavalieri, Pergola, Heinz Beck, Hatta, Ushikubo, Raby Hunt, Raby Hunt's Michelin, James Close, Maria, Chef Maria, Lorenz Adlon Esszimmer, Germany Lorenz Adlon Esszimmer, Lorenz, Young, Reto, Thomas Edison, Henry Ford, John D, Waku, Ghin, Tetsuya Wakuda, There’s, Tetsuya, they’re, kinome, It’s, Denmark There's, Jean Marchal, Maria Coppy, Jakob de Neergaard, iberico, Sven Wassmer, “, Lumnezia, Douglas, Koki, Hiroshi Yamaguchi, Bill Bensley, Chris Dwyer Organizations: CNN, Michelin, Duomo, Capella, Rosewood, of, Notre Dame, Resorts, Dubai Michelin, Resort Dubai, Reale, peerless, ”, Le Saint, Hong, Hong Kong Lung, Seasons Hong, Rockefeller, Sands, Royal Suite, Royal, Swiss, Koki, Capella Hotels, Capella Hanoi Locations: Bangkok, Piedmont, Hanoi, Tokyo, Zurich, Switzerland, Northumberland, Hadrian's, Swedish, England, Wall, Piazza Duomo, Alba, Italy, Japan, Spanish, Capella Bangkok, Thailand, France, Mirazur, Thai, Rosewood Hong Kong, Hong Kong, Chaat, Oxfordshire, ”, Cheval Blanc Paris, of Light, City of, Powys, Wales, Bulgari, Dubai, UAE, Italy’s Abruzzo, SingleThread, California, Healdsburg, Sonoma, Toya, Le, Provence, French, Vence, Marseille, Seasons Hong Kong, Yunnan, Peking, La, Rome, Eternal, County Durham, Darlington, romaine, Berlin, Germany, Brandenburg, Young Swiss, Europe, Marina, Sands, Singapore, Australia, Shizuoka, Hokkaido, d’Angleterre, Copenhagen, Denmark, Marchal, Hibana, Capella Hanoi, Vietnam

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Persons: —, you've, Wells, Banks, Foster, Ally, you’ll, Charles Schwab, Chase, Wells Fargo Organizations: Service, Bank of America, Credit Union, Chevron, Alliant Credit Union, Express, American Express, FDIC, Reading Chevron, Axos, Axos Bank, Blue Federal, Blue Foundation, NOVA, Capital, Schwab, Savings, Chase Bank, Overdraft, Chase, locator.chase.com, Green, Banking, The Bancorp Bank, Stride Bank, N.A, CIT Bank, Bank, FDIC CIT Bank, CIT, Connect, Citi, Member FDIC Citi, BBB, Consumers Credit, Credit, Consumers Credit Union, Delta Community Credit, Community Credit, Utah Free, Discover, Discover Bank, FDIC Discover, Falcon International, International, Falcon International Bank, International Bank of Commerce, American, Laredo Federal Credit Union, Latino Community Development Center, North Carolina, Community Credit Union, Latino Community Credit, Navy Federal Free, Federal Free, NCUA Navy Federal Free, Navy Federal Credit Union, Department of Defense, Premier, LifeGreen, Regions Bank, City Federal Credit, River City Federal Credit, Federal Credit, City Federal Credit Union, Employees Credit, NCUA, State Employees Credit Union, Member, Service Credit Union, American Consumer, Security, Security Service, UT, Stripes, Security Service Credit Union, The Security, Synchrony Bank, . Bank, U.S, Bank's Locations: Chevron, Colorado and Wyoming, NY, LA, TX, VA, NJ, Washington, Alaska, Hawaii, Puerto Rico, CA, CT, FL, Chicago , Illinois, eDocuments, Metro Atlanta , Georgia, Kentucky , Texas, Georgia, Texas, AZ, Arizona , California, Colorado, Oklahoma, Laredo, North Carolina, Charlotte, Piedmont Triad, North, American, City, River City, River, San Antonio , Texas, Bexar County, Europe, New Hampshire, Massachusetts, Colorado , Texas, Utah

CNN —Mourners gathered in Milan on Wednesday for the state funeral of Silvio Berlusconi, the divisive and domineering former premier who remained omnipresent in Italian public life for decades until his death this week. Berlusconi’s coffin left Villa San Martino in Arcore, outside Milan, and was transported through the city center to Milan’s gothic Duomo cathedral for Wednesday’s service. Berlusconi, who had a lengthy, scandal-ridden career, died at a Milan hospital on Monday aged 86. But Lana opposed the award of a state funeral to Berlusconi, citing the many trials against him. Widely regarded as Italy’s most colorful public figure, Berlusconi was elected prime minister three times and served for a total of nine years, longer than anyone since fascist dictator Benito Mussolini.

Persons: Silvio Berlusconi, Villa, Berlusconi, –, Sergio Mattarella, Giorgia Meloni, Viktor Orbán, Paolo Gentiloni, Monsignor Mario Delpini, ” “ Silvio Berlusconi, ”, “, Italy …, Jessica Lana, Lana, Guglielmo Mangiapane, Tomaso Montanari, Monatanari, Milan’s, Marina, Benito Mussolini, Matteo Salvini, Italy’s Organizations: CNN, Villa San, SkyTG24, Forza Italia, AC Milan football team, EU, Reuters, University for Foreigners of, Milan’s San Raffaele, Milan, Bloomberg Locations: Milan, Arcore, Italian, Rei, Alessandria, Piedmont, Italy, Milan’s, University for Foreigners of Siena

☆ This country has the best wines in the world for 2023
▼ + stars: | 2023-06-07 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +5 min

But one country has just triumphed over all the rest in the Decanter World Wine Awards 2023, the world’s biggest and most established wine competition, now in its 20th year. It was a victory for the New World as 10 Australian wines were named Best in Show, more than any other country. Italy had seven Best in Shows – all reds from Tuscany and Piedmont – while Portugal (three Best in Shows) – excelled in Port and Madeira. It’s Croatia – Slovenia makes wonderful wines, really really good – Slovakia, all around there.”Judges at the awards tasted up to 90 wines a day. London Food and Drink Photography/Decanter World Wine Awards 2023/Nic Crilly-HargraveThe future of wine regionsWith countries around the world regularly hitting record temperatures, climate change is already having an effect on established wine regions.

Persons: McLaren, Blanc, Château, De, –, Nic Crilly, Sarah, Jane Evans, you’re, “, Hargrave, ”, Evans, it’s Organizations: CNN, McLaren Vale, London ., London . London Food, Hargrave, Croatia –, London Food, ” Regions, of Locations: Portugal’s Douro, Napa Valley, Western, Margaret River, France, Spain, Champagne, Bordeaux, Italy, Tuscany, Piedmont –, Portugal, Port, Madeira, Greece, South Africa, Austrian, Chilean, Serbian, Oregon, New Zealand, London, London . London, Royal, South Korea, Balkans, Croatia, Croatia – Slovenia, Slovakia, California, they’re, Kent , Sussex, Hampshire, Surrey, of England

☆ Firms are bringing production back home because of the Ukraine war, China's slowdown — and TikTok
▼ + stars: | 2023-06-01 | by ( Lucy Handley | ) www.cnbc.com time to read: +8 min

Earnings calls discuss 'reshoring'A number of banks noted mentions of the domestic manufacturing trend in U.S. earnings calls for the most recent quarter. And we have never … got the target right," McRaith told an audience at a supply chain conference organized by software company o9 Solutions in April. Bill McRaith Former chief supply chain officer, PVHMcRaith, a former chief supply chain officer at Tommy Hilfiger-owner PVH , said the apparel industry both over-orders and under-orders stock by about 20% to 25%. If we build an economy based on electrification and batteries, it's going to be really important to control our own supply chain. "If we build an economy based on electrification and batteries, it's going to be really important to control our own supply chain," he told CNBC's "Street Signs Asia" in April.

Persons: Luke Sharrett, Savita Subramanian, Ryan Grabinski, they're, Bill McRaith, McRaith, PVH, Tommy Hilfiger, we've, Shein, Jade Gao, it's, Keith Phillips, Joe Biden, CNBC's, Elon Musk, Phillips Organizations: European Union, Bloomberg, Getty, Bank of America, UBS, Securities, o9 Solutions, CNBC, AFP, U.S ., Reshoring, EV, U.S, EVs Locations: China, Ukraine, U.S, Europe, Brazil, Guangzhou, U.S . U.S, Corpus Christi , Texas, Tennessee, United States

☆ Where to go this summer: A dozen destination ideas
▼ + stars: | 2023-05-28 | by ( Marnie Hunter | Jane Levere | ) edition.cnn.com time to read: +8 min

Peru"Peruvians are welcoming travelers back with open arms," says travel one travel expert. And perhaps most importantly, the city offers excellent value, in part because it will be the winter/low season there during the Northern Hemisphere’s summer. It’s home to three UNESCO World Heritage Sites, including megalithic temples that date to the 4th millennium BC. Although summer is the rainy season, Gellis says showers are often brief and intermittent. AlbaniaAlbania is a Mediterranean gem that’s likely to be less crowded this summer than Greece and Croatia, says Joao Donadel, another EMBARK Beyond travel advisor.

Musk said Tesla aimed to finish construction of the factory next year and then reach full production about a year later. We need lithium," Texas Governor Greg Abbott said at the ceremony. Musk has urged entrepreneurs to enter the lithium refining business, saying it is like "minting money." The refinery is the latest expansion by Tesla into Texas after the company moved its headquarters there from California in 2021. "We are proud that he calls Texas home," Abbott said, saying Tesla and Musk are "Texas's economic juggernauts."

☆ As lithium prices bounce, analysts love these stocks — giving one 155% upside
▼ + stars: | 2023-05-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

After a tough few months, lithium — a battery metal crucial in electric vehicles — is back in the spotlight as prices start to rebound. By the end of last week, however, lithium prices had started to bounce back. "Lithium prices in China gained for the first time this year on signs demand growth may be finally gathering pace … [and] amid thinning inventories across the supply chain," the ANZ Research analysts added. Canadian miner Sigma Lithium stood out for getting the highest potential upside from analysts at 155%, and a buy rating from 75% of analysts. Stocks that received a 100% buy rating included American EV battery maker Microvast Holdings and Australian miner Piedmont Lithium .

☆ Need More Light in the Kitchen? Here’s a Stylish, Adjustable Fix
▼ + stars: | 2023-04-29 | by ( Nina Molina | ) www.wsj.com time to read: +1 min

DOUBLE DIP Landed Interiors & Homes, which is based in New York City, draped a couple of matte-black adjustable pendants above a kitchen island in Piedmont, Calif. Photo: Haris KenjarHAVE YOU ever yearned to yank the ceiling light in your kitchen closer to the radishes you’re julienning? Adjustable pendants can get you out of your own way. London designer Susie Atkinson thrifted a 1960s double adjustable pendant for a local Queen-Anne style kitchen. This discreet concealing trick is still available on some models, but Los Angeles interior designer Martha Mulholland, for one, admires the visible, “industrial meets decorative” look of those with visible ballast. “It’s a design born out of a practical function,” said Ms. Mulholland.

☆ Lightning Round: Don't buy, don't buy, don't buy Piedmont Lithium
▼ + stars: | 2023-04-25 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Don't buy, don't buy, don't buy Piedmont Lithium"Mad Money" host Jim Cramer weighs in on stocks, including Hudson Tech, Big Lots, Viking Thera, Piedmont Lithium, Best Buy, Lithium Americas and HCA Holdings.

☆ Airlines are combating the pilot shortage by paying pilots more, making it easier to become one, and hiring from Australia
▼ + stars: | 2023-04-24 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

An ongoing pilot shortage has plagued US airlines since travel came roaring back post-pandemic. While some organizations — like the Regional Airline Association advocacy group — have praised the legalization, the Air Line Pilots Association has opposed it, Reuters reported. Increasing pilot payRegional flying has been particularly impacted by the pilot shortage, forcing airlines to slash dozens of flights to small markets and even ground regional jets. Other regional carriers like Mesa Airlines, Republic Airways, and Delta's wholly-owned airline Endeavor Air have also gotten pay increases. Lowering training requirementsRegional carrier Republic recently asked the FAA to reduce the flight hour requirement for pilots graduating from its LIFT pilot training academy.

☆ An American Airlines employee died when his vehicle crashed at an airport in Texas
▼ + stars: | 2023-04-22 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

An American Airlines employee was pronounced dead after a crash in Texas on Thursday. The worker died after a vehicle crashed on the tarmac at Austin-Bergstrom International Airport. An American Airlines employee died when a vehicle he was driving crashed into a jet bridge at an airport in Texas. The incident occurred outside the terminal where aircraft park, Austin-Bergstrom International Airport said in a statement on Twitter. An American Airlines representative told Insider: "We are devastated by the accident involving a team member at Austin-Bergstrom International Airport.

☆ World Transplant Games: The unexpected journeys of four athletes to one of the biggest competitions you've probably never heard of
▼ + stars: | 2023-04-13 | by ( Eryn Mathewson | ) edition.cnn.com time to read: +17 min

British supporters gesture during the opening ceremony of the XXI World Transplant Games 2017 in Malaga, Spain on June 25, 2017. Jorge Guerrero/AFP/Getty ImagesWhat are the World Transplant Games? The World Transplant Games is not a household name like the Special Olympics or the Susan G. Komen Race for the Cure. The Road Race starts at the 2019 World Transplant Games in Newcastle-Gateshead, United Kingdom. Price is currently recovering from a non-transplant related surgery, but said she’s ready to make her second appearance at the World Transplant Games.

☆ Wind and solar power generators wait in yearslong lines to put clean electricity on the grid, then face huge interconnection fees they can't afford
▼ + stars: | 2023-04-06 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +18 min

The local utility in charge of overseeing the interconnection process told Pine Gate it would be more than $30 million. Pine Gate had to terminate the project because it couldn't afford the new fees, its vice president of regulatory affairs, Brett White, told CNBC. "Those projects ended up withdrawing from the queue or terminating, because they don't pencil anymore," White told CNBC. "There is Texas, and then there's the rest of the country with respects to interconnection," White of Pine Gate told CNBC. And that means getting those engineers out of some of the rote manual data entry and into the actual analysis," White told CNBC.

Citi issues several credit cards for American Airlines, including the Citi® / AAdvantage® Platinum Select® World Elite Mastercard®. Citi AAdvantage Platinum Select Review: Is It the Best Airline Credit Card for You? How to earn miles with the Citi AAdvantage Platinum Select cardThe Citi® / AAdvantage® Platinum Select® World Elite Mastercard® is a good choice for American Airlines purchases, as well as other everyday spending in popular categories. What credit score do you need for the Citi AAdvantage Platinum Select card? Methodology: How we reviewed the Citi AAdvantage Platinum SelectInsider's experts compared the Citi® / AAdvantage® Platinum Select® World Elite Mastercard® to other American Airlines and competitor airline credit cards.

☆ Ex-Tesla director who pleaded guilty to insider trading will be released on the condition of 'good behavior'
▼ + stars: | 2023-03-21 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Kurt Schlosser pleaded guilty to profiting over $28,883 off knowledge of Tesla's deal with a mining company. He'll be released on the condition of "good behavior," but can't manage a company for five years. Spokespeople for Tesla and Piedmont Lithium did not respond to a request for comment ahead of publication. Tesla first announced a five-year agreement with Piedmont Lithium in 2020 on the heels of the electric-car maker's "Battery Day." At the time of the announcement, shares of the mining company surged as much as 83% to their highest level since 2007.

☆ Former director of Tesla Australia sentenced for insider trading
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +1 min

March 21 (Reuters) - A former director of Tesla Inc's (TSLA.O) Australian unit was sentenced to two years and six months imprisonment and will be released immediately on the condition of "good behaviour", Australia's corporate watchdog said on Tuesday. The sentence follows the former director's guilty pleas to two insider trading offences tied to a supply deal the electric-car maker signed with Piedmont Lithium Inc (PLL.O) in 2020, according to the Australian Securities and Investments Commission (ASIC). Schlosser sold the shares for a realised profit of $28,883.53 after the agreement became public, according to the watchdog. The regulator added that Schlosser communicated information to a friend "in circumstances where it was likely" that the person would acquire Piedmont shares. Tesla and Piedmont Lithium did not immediately respond to Reuters' requests for comments.

☆ Piedmont Lithium shares rebound after tumbling on short-seller report
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

In 2021, Piedmont invested $100 million in Atlantic Lithium (A11.AX) to secure spodumene - high-purity lithium ore - from Atlantic's mine in Ghana. Piedmont has a spodumene supply agreement with electric vehicle maker Tesla Inc (TSLA.O). Shares of Piedmont were last up 3.2% after falling as much as 6.6% on the report. Blue Orca alleged that Atlantic obtained key Ghana mining licenses by making secret payments and promises of payments to the immediate family of a high-level politician in Ghana. Piedmont and Atlantic Lithium did not immediately respond to requests for comment on the report.

☆ Elon Musk's dream of producing 20 million Teslas per year hangs on whether or not it can pull off a major shift in battery tech
▼ + stars: | 2023-03-08 | by ( Hasan Chowdhury | Asia Martin | ) www.businessinsider.com time to read: +7 min

Tesla wants to make lower cost electric vehicles, as a key part of its plan to fend off challenger. Still, given Tesla's delivery of roughly 1.3 million vehicles last year, it clearly has a long way to go to hit Musk's goal. The growing portion of Tesla's LFP vehicles have, in part, been the result of a deal it struck with Chinese battery supplier CATL in 2020. Tesla and the rush for lithiumA lack of supply chain controls hinders efforts to produce low-cost EVs. The company started to take steps towards taking control of lithium supply into its own hands.

For 100 of those applicants, the Energy Department has hired staff to provide business development advice and "intense mentorship," Jigar Shah, head of the Energy Department's Loan Programs Office, told Reuters on the sidelines of the CERAWeek energy conference in Houston. Given the rapidly evolving technologies in the clean energy space, Shah said the department might shorten loan terms. If we think that that's a risk, then we just change the terms of the loan," Shah said. The LPO office would like more applications from electric utilities and oil and gas companies for projects designed to reduce emissions, as well as geothermal companies, Shah said. Commercial debt markets are "less interested in the more innovative approaches that (wind companies) are taking.

☆ The cheapest and most expensive U.S. airports to fly out of—JFK, LAX didn't make either list
▼ + stars: | 2023-03-03 | by ( Celia Fernandez | ) www.cnbc.com time to read: +2 min

CivMetrics ranked the cheapest and most expensive airports in the U.S. based on average flight costs. Among the busiest airports, Ted Stevens Anchorage International in Alaska was the most expensive, with an average flight price of $540. On the other end, St. Pete Clearwater International in Florida, where flight costs average around $147, ranked as the cheapest airport. Washington Dulles International Airport in Dulles, Virginia, came in third place. The Ted Stevens International Airport is a critical supply chain hub.

☆ Australia's Magnis in deal with Tesla to supply graphite for electric vehicle batteries
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +1 min

Feb 21 (Reuters) - Australia's graphite developer Magnis Energy (MNS.AX) on Tuesday said it has signed a binding offtake deal with Tesla Inc (TSLA.O) to supply battery anode materials for a minimum three-year term beginning February 2025. The deal comes while automakers race to secure the supply of critical minerals as the world shifts to decarbonise and diversify global supply chains away from China, the world's biggest producer of electric vehicle batteries. Australia is beefing up its supply of critical minerals to the global auto industry, with BHP group (BHP.AX), Syrah Resources (SYR.AX), Liontown Resources(LTR.AX) and Piedmont Lithium having agreed to supply these minerals to Tesla. Magnis aims to secure a final location for its commercial AAM facility in the U.S. by June 30, and commence production by February 2025. Reporting by Nausheen Thusoo in Bengaluru; Editing by Sandra Maler and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ LG Chem Buys Stake in North Carolina Lithium Miner
▼ + stars: | 2023-02-20 | by ( Yusuf Khan | ) www.wsj.com time to read: +3 min

South Korea’s LG Chem will take a stake in Piedmont Lithium Inc., boosting its North American presence and banking on incentives to scale up its role in U.S. electric-vehicle supply chain. LG Chem will commit $75 million to Piedmont in return for a 5.7% stake in the miner, whose shares are listed on the Nasdaq and Australian Securities Exchange. PREVIEWThe U.S. is our key market and by preemptively securing raw materials this deal allows LG Chem to provide North American customers with products that satisfy IRA standards, said Mr. Hak-Cheol Shin, Vice Chairman and CEO of LG Chem in a statement. LG Chem is planning to build a $3 billion cathode plant in Clarksville, Tenn., slated to open in 2027. Already, Piedmont has an existing contract to supply Tesla with 50,000 tons annually until 2025, in addition to its new LG Chem supply deal.

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