Novonix PILOT passes IDB, says tariffs are a ‘positive’

CHATTANOOGA, Tenn. (WDEF)- Novonix has cleared the final step before construction can begin on a new facility at Enterprise South.
The Industrial Development Board approved the PILOT agreement with the electric vehicle battery manufacturer that will give them a tax break in exchange for building the new plant.

They already have an existing facility on the Chattanooga Westside, in which they recently had to lay off 19 people.

Novonix said Monday morning they have since rehired two of those employees back.

They also briefly commented on the impact of the tariffs implemented by President Donald Trump.

They hope it helps them compete with Chinese manufacturers who produce the synthetic graphite located inside those batteries.

A board member asked Novonix interim’s CEO Robert Long, “Do you see the tariffs as a positive or negative?”

Long responded, “Actually a positive… There’s a range of 850-920% tariff that should be on inbound graphite. 95% of the world’s synthetic graphite is produced in China, but that would significantly aid, even if it’s not at a very high level, the demand for that product.”

Novonix says they expect the Enterprise South to be up and running by 2028.