~ $1.5 billion investment will create 1,080 new jobs ~
AESC, a world-leading battery technology company, today announced the expansion of its lithium-ion electric vehicle battery manufacturing operations in Florence County. The company’s $1.5 billion investment will create 1,080 new jobs. This investment follows AESC’s initial announcement in December 2022 and expansion announcement in December 2023, resulting in a total investment of $3.12 billion and supporting 2,700 new jobs across the local community.
With this expansion of AESC’s strong production footprint in the United States, the company will construct a second state-of-the-art electric vehicle battery manufacturing facility adjacent to the first building which broke ground in June 2023.
In 2022, the company announced a multi-year partnership with BMW to supply technology-leading battery cells to be used in the next generation electric vehicle models produced at Plant Spartanburg.
AESC’s latest expansion will extend the partnership to additionally provide electric vehicle battery components for BMW Group’s Mexico Assembly Operations.
The AESC campus is located in the more than 1,000-acre Florence Global Technology Park.
Operations are expected to be online in 2027.
Individuals interested in joining the AESC team should visit readySC’s recruitment website to learn about future opportunities or visit the company’s careers page to explore current opportunities.
Companies interested in becoming an AESC supplier should complete S.C. Commerce’s online interest form.
At meetings on March 20 and March 26, 2024, the Joint Bond Review Committee and the State Fiscal Accountability Authority authorized the issuance of up to an additional $111 million in state general economic development bonds in support of the expanded project, as well as the costs of issuance. The bond 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 center that will serve both manufacturing facilities at the Florence site.
The Coordinating Council for Economic Development also approved job development credits related to the project.
AESC CEO Shoichi Matsumoto said, “We greatly value our partnership with South Carolina and Florence County as we strengthen our work together through this latest expansion that enhances our commitment to create high value jobs in the region and invest in the state. 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.”
Gov. Henry McMaster stated, “AESC’s second expansion in less than four months in Florence County signals yet another vote of confidence in our state and our people. This investment is another monumental win for Florence County, and we look forward to the substantial impact this will have throughout South Carolina.”
About AESC
AESC is a global leader in the development and manufacturing of high-performance batteries. Incorporated and headquartered in Japan, AESC is a standalone business focused exclusively on advanced battery technologies for electric vehicles and energy storage systems. Our diverse management team spearheads operations across major facilities spanning the U.S., U.K., France, Spain, China, Japan and other key locations in Europe and Asia. Our global presence and streamlined operations enable us to provide more innovation to the world’s leading OEMs as they pursue clean energy transportation solutions.
About S.C. Department of Commerce
As South Carolina’s leading economic development agency, the Department of Commerce works to recruit new businesses and help existing business grow. S.C. Commerce has recruited world-class companies to South Carolina such as BMW, Boeing, Continental, Giti Tire, LPL Financial Holdings, Mercedes-Benz Vans, Samsung, Toray and Volvo Cars and also supports startups, small and existing business, innovation and rural development initiatives. S.C. Commerce partners with the S.C. Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. With a strong international footprint, the Palmetto State has consistently been among the top in the nation for attracting jobs through foreign direct investment on a per capita basis – recognized by multiple economic development publications for its pro-business climate. For more information, visit www.SCcommerce.com.
SC Commerce Media Contact:
Kelly Coakley
Director of Marketing and Communications
South Carolina Department of Commerce
(803) 737-1998
kcoakley@sccommerce.com
www.SCcommerce.com
AESC Media Contact:
FGS Global
AESC-FGS@fgsglobal.com