EnerSys to develop lithium battery plant in South Carolina

EnerSys

14/02/2024 19:43

Feb 14 (Reuters) - EnerSys  ENS.N  said on Wednesday it
intends to invest $500 million to develop a lithium-ion cell
gigafactory in South Carolina to advance battery production in
the United States. 
    The facility, which is expected to come online in late 2027,
will manufacture various types of lithium-ion cells for
commercial, industrial and defense applications, with a
production capacity of 4 gigawatt hours (GWh) per year.
    The company expects the factory to provide independence from
non-domestic cell suppliers, EnerSys said, adding that it has
the potential to create 500 new jobs.
    EnerSys' investment would include proceeds from a potential
incentives package, along with the Inflation Reduction Act (IRA)
IRC 45X tax benefits and potential additional federal funding.

 (Reporting by Mrinalika Roy in Bengaluru; Editing by Shinjini
Ganguli)
 ((mrinalika.roy@thomsonreuters.com;))