Battery tech firm AESC, which is partnered with BMW, is investing $1.5 billion to expand its EV battery factory in South Carolina.
AESC’s EV battery factory expansion
AESC’s latest EV battery manufacturing expenditure follows its initial announcement to build the Florence County factory in December 2022 and its $810 million expansion announcement in December 2023. That’s a pretty significant investment at $3.12 billion.
Today’s announcement will create 1,080 new jobs, bringing the total number to 2,700 jobs across the local community.
In 2022, AESC announced a multi-year partnership with BMW to supply battery cells for next-gen BMW EVs produced at Plant Spartanburg in South Carolina.
AESC’s latest expansion will provide EV battery components for BMW Group’s Mexico Assembly Operations. The new extension will be adjacent to the first building that broke ground in June 2023, in the more than 1,000-acre Florence Global Technology Park. Operations are expected to be online in 2027.
Governor Henry McMaster (R-SC) said, “This investment is another monumental win for Florence County, and we look forward to the substantial impact this will have throughout South Carolina.”
Electrek’s Take
This is happening because BMW and AESC know there’s a growing demand for EVs in the US. They wouldn’t be doing this otherwise.
And South Carolina is now a US leader in EV and EV battery manufacturing growth. The Republican state is gaining jobs and revenue from the Biden administration’s Inflation Reduction Act, which incentivizes that growth.
EV demand is not slowing. Here’s more evidence.
Read more: Historic: US EVs skyrocket past 1 million sales, up 50.7% YOY🔥
If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –ad*
FTC: We use income earning auto affiliate links. More.
Comments