AESC, an electric vehicle (EV) battery technology company, announced the expansion of its lithium-ion EV battery manufacturing operations in Florence County, South Carolina.
The company’s $1.5 billion investment will create 1,080 new jobs. This investment follows AESC’s initial announcement in 2022 and expansion announcement in 2023, resulting in a total investment of $3.12 billion and supporting 2,700 new jobs across the local community.
In 2022, the company announced a multi-year partnership with BMW to supply technology-leading battery cells to be used in the next-generation EV 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.
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. 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 20th and March 26th, 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.
Filed Under: Batteries, Technology News