June 9th, 2025
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A Japanese company called AESC has stopped building a new factory in South Carolina for a while. They said it's because they are not sure about government rules and the market. This factory was going to make batteries for BMW electric cars. The Governor of South Carolina, Henry McMaster, thinks this stop is because people might not get tax money back when they buy electric cars. Also, there are changes with taxes 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 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 President Trump might put high taxes on things from other countries. This could affect South Carolina's work with foreign companies like BMW, Michelin, and Samsung.
June 9th, 2025
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