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Greenville Business Magazine

AESC Grows Florence County Operations With Second Expansion in Four Months

Mar 26, 2024 11:21AM ● By David Dykes

AESC, a leading battery technology company, announced the expansion of its lithium-ion electric vehicle battery manufacturing operations in Florence County.

The company’s $1.5 billion investment will create 1,080 jobs, according to Gov. Henry McMaster’s office.

“South Carolina is a crucial part of our strategy to power next generation electric vehicles for customers across the U.S. by manufacturing high-performance, longer-range EV batteries locally," said AESC CEO Shoichi Matsumoto.

Matsumoto added, "Through our collaborative efforts, I am excited that we are able to support thousands of new workers and increase both AESC and South Carolina’s leadership in providing advanced clean energy transportation solutions.” 

The investment follows AESC’s initial announcement in December 2022 and expansion announcement in December 2023, resulting in a total investment of $3.12 billion and supporting 2,700 new jobs across the local community.

In 2022, the company announced a multi-year partnership with BMW to supply technology-leading battery cells to be used in the next generation electric vehicle models produced at Plant Spartanburg. 

AESC’s latest expansion will extend the partnership to provide, in addition, electric vehicle battery components for BMW Group’s Mexico Assembly Operations.

With the expansion of AESC’s production footprint in the United States, the company will build a second state-of-the-art electric vehicle battery manufacturing facility adjacent to the first building which broke ground in June 2023. 

The AESC campus is located in the more than 1,000-acre Florence Global Technology Park.

Operations are expected to be online in 2027. 

At meetings on March 20 and March 26, 2024, the Joint Bond Review Committee and the State Fiscal Accountability Authority authorized the issuance of up to an additional $111 million in state general economic development bonds in support of the expanded project, as well as the costs of issuance.

The bond proceeds will be used to offset the costs of a county-owned warehouse building, site preparation, on-site roads, off-site road and water improvements, and additional expansion of the training center that will serve both manufacturing facilities at the Florence site.

The state’s Coordinating Council for Economic Development also approved job development credits related to the project.

“AESC’s second expansion in less than four months in Florence County signals yet another vote of confidence in our state and our people,” McMaster said.

Those interested in joining AESC team should go to readySC’s recruitment website to learn about future opportunities or the company’s careers page for current opportunities. 

Companies interested in becoming an AESC supplier should complete S.C. Commerce’s online interest form.