June 9th, 2025
Create an account or log in to unlock unlimited access!
Automotive Energy Supply Corp. (AESC), a Japanese company, has temporarily stopped building a $1.6 billion factory in South Carolina. They said this was due to "policy and market uncertainty." This factory was planned to make batteries for electric BMW cars. South Carolina's Governor Henry McMaster thinks the delay is because of possible changes to federal tax breaks for people buying electric cars and for electric car businesses, as well as unclear tariffs under President Donald Trump's government. Even with this pause, AESC has promised to hire 1,600 workers and invest $1.6 billion; they have already put $1 billion into the Florence factory. At the same time, South Carolina continues to invest a lot in electric vehicles. For example, Volkswagen-owned Scout Motors plans to invest $2 billion in a new factory to make electric SUVs by 2027. A bigger worry is how Trump's idea of high tariffs could affect the state's partnerships with foreign companies like BMW, Michelin, and Samsung.
June 9th, 2025
Resumption of Student Loan Repayments Triggers Credit Score Drops for Millions in the US
Resumption of Student Loan Repayments Triggers Credit Score Drops for Millions in the US
US Consumer Spending Slows as Tariff Concerns Dampen Retail Sector
US Consumer Spending Slows as Tariff Concerns Dampen Retail Sector
Crude Oil Market Turmoil: Prices Surge as US Stocks Face Downturn
Crude Oil Market Turmoil: Prices Surge as US Stocks Face Downturn
Consumer Confidence Edges Up Amidst Steady Inflation
Consumer Confidence Edges Up Amidst Steady Inflation
JetZero's $4.7 Billion North Carolina Plant: A Boost for Employment and Regional Growth
JetZero's $4.7 Billion North Carolina Plant: A Boost for Employment and Regional Growth
Asian Markets Tumble, Oil Soars Amidst Israeli Action in Iran
Asian Markets Tumble, Oil Soars Amidst Israeli Action in Iran
US and China Forge Framework Deal to Ease Trade Tensions
US and China Forge Framework Deal to Ease Trade Tensions
Warner Bros. Discovery Restructures: Cable and Streaming Divisions to Separate
Warner Bros. Discovery Restructures: Cable and Streaming Divisions to Separate
States Challenge 23andMe Data Sale Amidst Consent Concerns
States Challenge 23andMe Data Sale Amidst Consent Concerns
Create an account or log in to continue reading and join the Lingo Times community!