A major Japanese battery maker has stopped construction on a $1.6 billion plant in South Carolina, citing “policy and market uncertainty” tied to electric vehicles and global trade.
Automotive Energy Supply Corp. (AESC) said Thursday it’s temporarily halting work on the factory in Florence, which is meant to supply batteries for electric BMWs made in the state.
The company didn’t list specific concerns, but South Carolina Governor Henry McMaster pointed to worries over changes to federal EV tax credits, incentives for clean energy businesses, and potential new tariffs under President Donald Trump.
“We’re urging caution,” McMaster said. “Let things play out — all these changes are happening at once.”
AESC has pledged to restart construction, though it hasn’t given a timeline. It says it will still meet its promise to hire 1,600 workers and invest $1.6 billion, and has already spent $1 billion on the site.
The Florence plant is meant to supply battery cells to BMW, which is building its own assembly plant nearby. BMW says the AESC delay won’t affect its timeline to open in 2026.
South Carolina had previously pulled back $111 million in planned incentives after AESC scaled down its original plans. But the company is still set to receive $135 million in grants and $121 million in state bonds.
The pause comes as other clean energy projects in the U.S. are also facing uncertainty tied to Trump’s trade stance. An earlier analysis found $14 billion worth of clean energy projects have been canceled nationwide.
Still, South Carolina continues to bet big on EVs. Scout Motors, owned by Volkswagen, plans to open a $2 billion plant in the state in 2027 to build electric SUVs.
ICT Week Uzbekistan 2026 will bring startups, investors and global technology companies to Tashkent from 22 to 25 September, with venture capital, ...
Pakistan is providing targeted relief to millions of people after a sharp rise in global oil prices pushed domestic petrol and diesel prices h...
Astana, the capital of Kazakhstan, has become home to what organisers say is the world's largest competition dedicated to films made using arti...
Maritime trackers received new reports of an attack on a ship in the Strait of Hormuz on Sunday, according to the UK Maritime Trade Operations (UKMTO), adding to concerns about energy supplies after Saudi Arabia shut down a vital oil pipeline on Saturday.
A Kyiv-Warsaw train was struck near the Polish border, Ukraine's state railway firm said on Sunday. No passengers were injured. Ukrainian Railways said that the country's railways were facing systematic attacks for a second day and warned of widespread delays.
Saudi Arabia has temporarily shut down its 1,200-kilometre East-West oil pipeline after it was hit by a drone attack, with Riyadh and Baghdad saying the strike originated from Iraq.
U.S. Central Command said 101 commercial vessels have been redirected in the Strait of Hormuz, while oil prices rose more than three per cent amid fresh regional attacks and supply concerns.
Swedes vote in an election on Sunday (13 September) that could see the far-right enter government for the first time if the country's right-wing parties can form a majority.
Shares in artificial intelligence-related companies fell sharply across Asian markets on Monday, after some of the industry's most prominent chief executives warned that the breakneck pace of AI development needs to slow down.
The head of artificial intelligence company Anthropic has called for the industry to slow the pace at which it develops increasingly capable artificial intelligence (AI) systems, arguing that more time is needed to address the risks they may create.
GITEX AI Türkiye opened in Istanbul on Wednesday, bringing the international technology exhibition network to the country for the first time.
A former OpenAI and Anthropic researcher has quit his job with a stark warning: the companies building some of the world’s most powerful artificial intelligence (AI) systems are racing towards technology they themselves fear could threaten humanity.
Nobel laureate Geoffrey Hinton has warned against rushing to develop artificial superintelligence, arguing that scientists still do not know how to ensure systems more capable than humans remain safe and under control.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment