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AESC Expands Manufacturing Operations in Florence CountyAESC (the "Company"), a world-leading battery technology company, today 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 new jobs. This 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. "We greatly value our partnership with South Carolina and Florence County as we strengthen our work together through this latest expansion that enhances our commitment to create high value jobs in the region and invest in the state," said AESC CEO Shoichi Matsumoto. "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. 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." "AESC's second expansion in less than four months in Florence County signals yet another vote of confidence in our state and our people," said Governor Henry McMaster. "This investment is another monumental win for Florence County, and we look forward to the substantial impact this will have throughout South Carolina." 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 additionally provide electric vehicle battery components for BMW Group's Mexico Assembly Operations. With this expansion of AESC's strong production footprint in the United States, the Company will construct 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. Individuals interested in joining the AESC team should visit readySC's recruitment website to learn about future opportunities or visit the Company's careers page to explore current opportunities. Companies interested in becoming an AESC supplier should complete S.C. Commerce's online interest form. ADDITIONAL QUOTES "South Carolina is proud to have AESC as a key player in our state's burgeoning electric vehicle industry. Its expanding presence has helped our state assemble the backbone of the ecosystem that will take us through the entire life cycle of the electric vehicle battery." -Secretary of Commerce Harry M. Lightsey III "AESC's unwavering dedication to Florence County marks a transformative moment, now bringing forth a total creation of 2,700 jobs and injecting over $3.12 billion in capital investment into the local economy. As a global leader in advanced lithium-ion battery technology, AESC's expansion signifies more than just economic growth-it symbolizes a commitment to sustainable innovation. Beyond the immediate impact on job creation, AESC's presence will catalyze a ripple effect across our local economy." -Florence County Council Chair William Schofield "As we continue to move Florence forward, we celebrate AESC's expansion and continued growth in Florence. Today's announcement signifies increased opportunity for our citizens to obtain one of the 2,700 new jobs AESC will create in our community." -Florence Mayor Teresa Myers Ervin "Today's announcement by AESC is a truly remarkable economic development achievement. The continued momentum of AESC's presence in Florence County brings even more high-level jobs and opportunities to residents of the region. This landmark initiative epitomizes the strength of our region's business climate, and we commend AESC for their commitment to South Carolina." -NESA Executive Committee Chairman Yancey McGill "Our state's economy is booming and projects like this continue to show the world that South Carolina and Florence County are thriving and open for business. Duke Energy is excited to continue to work with AESC to provide them with the reliable, affordable and sustainable energy they need to ensure their success here in the Palmetto State for many years to come." -Duke Energy South Carolina President Mike Callahan About AESC AESC is a global leader in the development and manufacturing of high-performance batteries. Incorporated and headquartered in Japan, AESC is a standalone 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. About S.C. Department of Commerce As South Carolina's leading economic development agency, the Department of Commerce works to recruit new businesses and help existing business grow. S.C. Commerce has recruited world-class companies to South Carolina such as BMW, Boeing, Continental, Giti Tire, LPL Financial Holdings, Mercedes-Benz Vans, Samsung, Toray and Volvo Cars and also supports startups, small and existing business, innovation and rural development initiatives. S.C. Commerce partners with the S.C. Technical College System via readySC to support workforce training and recruiting, and with the S.C. Department of Employment and Workforce, which provides worker training and employment opportunities within the state. With a strong international footprint, the Palmetto State has consistently been among the top in the nation for attracting jobs through foreign direct investment on a per capita basis - recognized by multiple economic development publications for its pro-business climate. For more information, visit www.SCcommerce.com.
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