June 9th, 2025
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A Japanese company called AESC has stopped building a new factory in South Carolina for a short time. They said it's because they are not sure about government rules and the market. This factory was going to make batteries for electric BMW cars. The Governor of South Carolina, Henry McMaster, thinks they stopped because people might not get tax money back for electric cars. He also thinks it's because of new taxes on goods from other countries under President Donald Trump. But AESC has promised to hire 1,600 workers and spend $1.6 billion. They have already spent $1 billion on the factory in Florence. South Carolina is still spending a lot of money on electric cars. For example, Scout Motors, which is owned by Volkswagen, plans to spend $2 billion on a new factory to make electric SUVs by 2027. People are worried that Trump might put high taxes on goods from other countries. This could be bad for South Carolina's business with foreign companies like BMW, Michelin, and Samsung.
June 9th, 2025
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