AESC commits $1.5bn to expand its US EV battery plant
Japan-based battery tech company AESC will boost production its lithium-ion electric vehicle battery manufacturing operations at Florence County, South Carolina.
The firm has pledged USD 1.5 billion to the expansion scheme, which will bring total investment in the US facility to 3.12 billion. AESC launched the plant in December 2022, and shortly after announced a multi-year partnership to supply battery cells to the car maker BMW. This new expansion will form a supply chain for BMW Group’s Mexico assembly operations.
South Carolina state assigned USD 111 million in state general economic development bonds to support the project. The proceeds will be used to offset the costs of a county-owned warehouse building, site preparation, on-site roads, off-site road and water improvements, and additional expansion of the training centre.
Shoichi Matsumoto, AESC CEO, said: “South Carolina is a crucial part of our strategy to power next generation electric vehicles for customers across the U.S. by manufacturing high-performance, longer-range EV batteries locally. Through our collaborative efforts, I am excited that we are able to support thousands of new workers and increase both AESC and South Carolina’s leadership in providing advanced clean energy transportation solutions.
