A Japanese battery maker’s $1.6 billion electric vehicle (EV) battery cell plant in Florence, South Carolina, has paused construction due to market uncertainty. The pause affects a project that would create 1,600 jobs and invest over $1 billion in the region.
The uncertainty stems from speculation about President Donald Trump’s stance on tariffs and a tax bill that could eliminate the $7,500 new EV tax credit. AESC, the Japanese company behind the plant, has invested heavily in the facility and plans to resume construction once circumstances stabilize.
South Carolina officials have offered over $255 million in funding to support the project, including $135 million for Florence County and $120 million for off-site infrastructure and training facilities. Governor Henry McMaster urged caution and encouraged people to wait for further developments.
This pause comes after a temporary suspension of work at Volvo’s Berkeley County plant due to supply chain issues attributed to Trump’s administration. Production has since resumed.
Source: https://www.thestate.com/news/politics-government/article307991660.html