AESC invests an additional $1.5 billion to expand electric vehicle battery manufacturing in South Carolina 

AESC has announced plans to expand its lithium-ion electric vehicle battery manufacturing operations in Florence County, South Carolina. The battery technology company will invest $1.5 billion into the project, creating 1,080 new jobs for the surrounding area. This latest project, which expands upon announcements made in December 2022 and December 2023, brings the company’s total investment to $3.12 billion. AESC will build a second electric vehicle battery manufacturing facility adjacent to the first building, which broke ground in June 2023. Production is expected to begin in 2027. 

In a recent quote, 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.” 

Governor Henry McMaster added, “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.” 

Investing in American Manufacturing - 2024

This map shows where manufacturers are choosing to invest their resources, whether they are building new production facilities or expanding existing plants.