Envision AESC to build a Florence EV plant in South Carolina

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Envision AESC, an electric vehicle(EV) company, has plans of building its new Florence EV plant in South Carolina. The Japan-based company recently announced that it would make an $810 million investment in the new 30GWh state-of-the-art gigafactory. Several state and city officials were present for the announcement, which took place at Francis Marion University in downtown Florence.

According to Florence County’s Council Chairman, Willard Dorriety, this new gigafactory is one of Florence county’s largest announcements in recent times. Especially since the new Florence EV plant would create up to 1,170 new high-value full-time jobs in the region. Dorriety was pleased with the employment prospects, which he described as transformational career opportunities for the citizens.

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The new Florence EV plant will also serve Envision’s goal of supplying technology-leading battery cells to BMW’s Spartanburg Plant. However, the developer plans to create an advanced battery format, which will produce 20% more energy density than the current generation. Additionally, this new battery format will also help reduce charging time, and increase the range and efficiency of EVs by 30%.

Development plans for the Florence EV plant

Envision will build the new 1.5-million-square-foot Florence EV plant within the 900-acre Technology and Commerce Park in Florence county. The developer plans to start the construction by 2023 and expects the project to reach completion by 2025.

Governor Henry McMaster, welcomed the new Florence EV plant development and praised Envision AESC for investing in the state. McMaster said South Carolina has been an automotive powerhouse for over 30 years due to the state’s enabling environment. The Governor pointed out that South Carolina has a business-friendly environment as well as a skilled workforce. Additionally, he said the state was also willing to adapt to industry innovations that attract companies to do business.

South Carolina will provide financial support for the Florence EV plant through its $70 million state general economic development bonds. This funding will offset the costs of off-site infrastructure and a training center to support the project. In addition, Florence County Council is also putting together an incentive package for Envision AESC. This package will include a fee-in-lieu of taxes agreement, Credits, Special Source Revenue, and an interlocal agreement with Florence city.