June 9th, 2025
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A Japanese company called AESC has temporarily stopped building a $1.6 billion factory in South Carolina. This factory was going to make batteries for electric BMW cars. AESC said they stopped because of "policy and market uncertainty." South Carolina's Governor, Henry McMaster, believes this pause is due to possible changes in federal tax breaks for electric car buyers, support for EV businesses, and unclear tariffs under Donald Trump's government. Even though they paused, AESC has promised to hire 1,600 workers and invest $1.6 billion, and they have already invested $1 billion in the Florence plant. Meanwhile, South Carolina continues to invest a lot in electric vehicles. For example, 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 might affect South Carolina's partnerships with foreign companies like BMW, Michelin, and Samsung.
June 9th, 2025
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