June 9th, 2025
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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 loss of federal tax breaks for people buying electric cars and for EV businesses. He also mentioned unclear tariffs under President Donald Trump's government. Even with this pause, AESC has promised to keep its commitment to hire 1,600 workers 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-owned Scout Motors plans to invest $2 billion in a new plant to make electric SUVs by 2027. The bigger worry is how Trump's idea of high tariffs might affect the state's partnerships with foreign companies like BMW, Michelin, and Samsung.
June 9th, 2025
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