BMW

Envision AESC said it plans to build batteries for electric BMW vehicles at a new plant in South Carolina, spending $810 million on a facility that could have up to 1,170 workers.

One of the state’s key economic drivers, advanced manufacturing specifically auto manufacturing, appears to be on the verge of a dramatic new expansion that could create thousands of jobs, and help South Carolina maintain its’ competitive position in the global economy.As the auto industry begins to pivot from combustion to battery-powered-engines, state officials and their industry partners are scrambling to make sure the automotive manufacturing sector continues to thrive because as USC Research Economist Dr. Joey Von Nessen points out, advanced manufacturing is as important to South Carolina today as textile manufacturing was in the 19th and most of the 20th century.

The Biden administration on Wednesday awarded $2.8 billion in grants to build and expand domestic manufacturing of batteries for electric vehicles in 12 states. A total of 20 companies will receive grants for projects to extract and process lithium, graphite and other battery materials, manufacture components and strengthen U.S. supply of critical minerals. The announcement comes as the administration seeks to boost production and sales of electric vehicles as a key part of President Joe Biden's strategy to slow climate change and build up U.S. manufacturing.

BMW will invest $1 billion in its sprawling factory near Spartanburg, South Carolina, to start producing electric vehicles and an additional $700 million to build a electric-battery plant nearby. The German automaker’s announcement reflects its commitment to transitioning to electric-vehicle production in North America, in line with similarly ambitious plans by other major automakers.