June 9th, 2025
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A Japanese company called AESC has stopped building a big 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 thinks they stopped because people who buy electric cars might not get tax money back from the government. Also, electric car companies might not get help. They are also worried about extra taxes on imported goods if Donald Trump becomes president again. Even though they stopped, AESC promised to hire 1,600 people and invest $1.6 billion. They have already spent $1 billion on the factory in Florence. South Carolina is still putting a lot of money into 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 if Trump puts high taxes on things from other countries, it could hurt South Carolina's business deals with foreign companies like BMW, Michelin, and Samsung.
June 9th, 2025
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