AESC pauses construction of $1.6 billion EV battery plant in South Carolina

From Yahoo Finance: 2025-06-10 05:11:00

Japanese company AESC Group has paused construction of a $1.6 billion electric vehicle battery plant in South Carolina, citing political uncertainty and market demand. The decision is blamed on potential discontinuation of federal tax incentives for EVs and manufacturers by the new US administration. AESC has already invested $1 billion in the plant and planned to employ 1,600 workers. BMW’s battery pack assembly facility in Greer, South Carolina is unaffected by the suspension. AESC has battery plants in several countries and recently opened one in France. The company will restart construction when market conditions improve.



Read more at Yahoo Finance: AESC halts construction of US EV battery plant