AESC expanding Florence County electric vehicle gigafactory

Original Release by South Carolina Department of Commerce.

AESC, a world-leading electric vehicle battery technology company, today announced the expansion of its state-of-the-art battery cell facility in Florence County. The $810 million investment will create 450 new jobs. Expected to be complete by 2026, this new commitment follows AESC’s initial announcement in December 2022 of $810 million and 1,170 jobs, resulting in a total investment of $1.62 billion and 1,620 new jobs.

As part of a multi-year partnership with BMW, AESC will supply technology-leading battery cells to be used in the next generation electric vehicle models produced at Plant Spartanburg. This advanced battery format will result in 20% more energy density than the current generation, reduce charging time and increase range and efficiency for electric vehicles by 30%.

The company will expand its existing facility which is under construction — located in the more than 1,000-acre Florence Global Technology and Commerce Park — to bolster production capabilities and help accelerate the U.S.’ shift to electric vehicles.

Individuals interested in joining the AESC team should visit readySC’s recruitment website to explore opportunities. Companies interested in becoming a supplier for the company should complete S.C. Commerce’s online interest form.

At meetings on Dec. 5 and Dec. 12, 2023, the Joint Bond Review Committee and the State Fiscal Accountability Authority authorized the issuance of up to an additional $50 million in state general economic development bonds in support of the expanded project to offset the costs of additional off-site infrastructure and site preparation, subterranean construction support, and an expanded training center.

The Coordinating Council for Economic Development also awarded job development credits related to the project.

QUOTES

“Our partnership with Florence County and the State of South Carolina has exceeded our expectations and we are proud to commit to creating additional high value jobs for this great community for years to come. As we continue to make significant strides towards the development of high-performance, longer-range batteries to propel the EV transition in the U.S., we are excited to have Florence County as a partner on this journey with us.”
-AESC US Managing Director Jeff Deaton

"AESC's continued investment in South Carolina is a testament to the business-friendly environment we've fostered, which has helped to solidify our place as the premier destination for electric vehicle companies to call home. I look forward to the transformative impact that AESC's historic investments will have on not only the Pee Dee but all of South Carolina.”
-Gov. Henry McMaster

“AESC’s expansion in Florence County — in merely a year — underscores South Carolina’s pro-business environment which helps accelerate our companies’ growth. Congratulations to AESC, and we look forward to the additional, new opportunities this announcement represents.”
-Secretary of Commerce Harry M. Lightsey III

“With today’s announcement, the total number of new jobs announced by AESC will exceed 1,600 and result in new capital investment in excess of $1.6 billion in our community. This investment is truly commendable and will significantly contribute to the vitality of our local economy. We look forward to continuing our strong partnership with AESC in the years to come.”
-Florence County Council Chair Willard Dorriety

“The expansion of AESC is a testament to our community’s business-friendly environment that supports growth and innovation. I am confident AESC will continue to be an impactful and inclusive member of our community. The 450 new jobs created by this announcement will provide increased opportunities for our citizens and help move Florence forward for generations to come.”
-Florence Mayor Teresa Myers Ervin

“We congratulate AESC on the decision to expand their Florence facility and recognize the positive impact this expansion will have on the continued economic success of Florence County. These 450 new jobs will provide additional opportunities for local residents to contribute to the clean energy revolution, ensuring a sustainable and prosperous future for generations to come.”
– Florence County Economic Development Partnership Chair, Rocky Pearce

“We are honored AESC has decided to increase their investment and job growth in the Florence Community. This is a testament to the strong business minds that make our community competitive and vibrant, and it will have an extraordinary impact on our region. Congratulations to AESC and Florence County on this exciting announcement.”
-NESA Executive Committee Chairman Yancey McGill

About AESC
AESC is a global leader in the development and manufacturing of high-performance electric vehicle batteries. Incorporated and headquartered in Japan, AESC is a pure-play business, focused exclusively on advanced battery technologies for electric vehicles and energy storage systems. Our diverse management team spearheads operations across major facilities spanning the U.S., U.K., France, Spain, China, Japan and other key locations in Europe and Asia. Our global presence and streamlined operations enable us to provide more innovation to the world’s leading OEMs as they pursue clean energy transportation solutions. For more information, visit https://us.aesc-group.com/