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Greenville Business Magazine

AESC Expanding Florence County Electric Vehicle Gigafactory

Dec 12, 2023 02:50PM ● By David Dykes

AESC, a leading electric vehicle battery technology company, announced Dec. 12, 2023, the expansion of its state-of-the-art battery cell facility in Florence County. 

The $810 million investment will create 450 jobs, according to Gov. Henry McMaster’s office.

Expected to be complete by 2026, the 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, according to state officials.

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. 

Officials said the advanced battery format will result in 20 percent more energy density than the current generation, reduce charging time, and increase range and efficiency for electric vehicles by 30 percent.

The company will expand its existing facility that 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.

“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,” said AESC US Managing Director Jeff Deaton.

Said McMaster: "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.” 

At meetings on Dec. 5 and Dec. 12, 2023, the Joint Bond Review Committee and the State Fiscal Accountability Authority authorized 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 state’s Coordinating Council for Economic Development also awarded job development credits related to the project.

Those interested in joining the AESC team should go to 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.