Press Release
Florence, S.C. – AESC Pauses Second Facility Amid Financing Setback
Automotive Energy Supply Co. (AESC), an electric vehicle battery manufacturer, has announced a temporary halt on plans for a second facility in Florence, South Carolina. This decision follows the South Carolina Fiscal Accountability Authority’s withdrawal of more than $100 million in bonds intended to support the project.
Harry Lightsey, head of the S.C. Commerce Department, revealed in a letter to the authority that "due to various developments," AESC has "no longer established a fixed timeline" for the new facility. As of now, no funds have been disbursed for the project.
The first AESC facility, currently under construction in Florence, remains on track to open in 2026. This site is set to employ approximately 1,620 workers and will play a crucial role in supplying components for BMW’s manufacturing operations in Spartanburg. Although the second facility was designed to serve BMW’s plant in Mexico, AESC officials are confident that the existing facility will adequately fulfill current production demands.
Despite the setback regarding the second facility, South Carolina is committed to advancing plans for a $200 million training center and infrastructure improvements that will support the first facility. This investment aims to bolster workforce development and enhance the overall business environment in the region.
The decision reflects both the challenges and opportunities facing electric vehicle manufacturers as the industry evolves. As AESC continues to focus on its first plant, the collaboration with local and state organizations remains vital for fostering growth in South Carolina’s burgeoning automotive sector.
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