Chinese-owned electric vehicle battery maker Automotive Energy Supply Corp. has paused work on its manufacturing plant under construction in Florence, South Carolina, due to “policy and market uncertainty,” reported The Wall Street Journal.
“AESC has invested over $1 billion into the Florence facility, and we anticipate being able to resume construction once circumstances stabilize. AESC fully intends to meet our commitments to invest $1.6 billion and create 1,600 jobs in the coming years,” the company said.
South Carolina Gov. Henry McMaster, a Republican, pointed to the potential loss of federal tax breaks for EV buyers and incentives for EV businesses along with tariffs as the reason.
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