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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.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
Over the past year, 162 asteroids flew closer to Earth than the Moon. NASA and ESA warn only 40% of dangerous objects have been identified, with one asteroid posing a small risk of hitting the Moon in 2032.
A Chinese firm has launched what it claims is the country’s first 24/7 intelligent laser weeding robot, aiming to phase out chemical herbicides and cut agricultural pollution at its source.
Set on top of Chile’s Cerro Pachón mountain, the Vera C. Rubin Observatory will soon embark on a ten-year survey, using cutting-edge technology to uncover new secrets of the universe.
Scientists at the MRC Laboratory of Medical Sciences have identified a genetic 'dimmer switch' that controls how genes turn on and off during embryo formation, offering insights for future therapies.
Japan has launched its H2A rocket for the final time, marking a shift to its next-generation H3 programme.
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