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 meant 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 electric car buyers and incentives for EV businesses, as well as unclear tariffs if Donald Trump becomes president again. Even though construction is paused, AESC has promised to create 1,600 jobs and invest $1.6 billion, and they have already put $1 billion into the Florence plant. Meanwhile, South Carolina continues to invest a lot in electric vehicles. For example, Volkswagen's Scout Motors plans to invest $2 billion in a new factory to make electric SUVs by 2027. A bigger concern is how Trump's interest in high tariffs might affect the state's partnerships with foreign companies like BMW, Michelin, and Samsung.
June 9th, 2025
US Credit Scores Hit by Student Loan Repayment Restart: Millions Affected
US Credit Scores Hit by Student Loan Repayment Restart: Millions Affected
US Consumer Caution Grows: Retail Sales Decline Following Tariff-Driven Spending
US Consumer Caution Grows: Retail Sales Decline Following Tariff-Driven Spending
Crude Market Jitters: Oil Surges as US Stocks Face Downward Pressure
Crude Market Jitters: Oil Surges as US Stocks Face Downward Pressure
Consumer Confidence Edges Up Amidst Steady Inflation
Consumer Confidence Edges Up Amidst Steady Inflation
JetZero's $4.7 Billion North Carolina Plant: Aims for 14,500 New Jobs
JetZero's $4.7 Billion North Carolina Plant: Aims for 14,500 New Jobs
Asian Markets Tumble, Oil Rises Sharply Following Reported Israeli Action in Iran
Asian Markets Tumble, Oil Rises Sharply Following Reported Israeli Action in Iran
US and China Forge Framework to De-escalate Trade Frictions
US and China Forge Framework to De-escalate Trade Frictions
Warner Bros. Discovery Restructures: Cable and Streaming Divisions to Operate Separately
Warner Bros. Discovery Restructures: Cable and Streaming Divisions to Operate Separately
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!