EnerSys to develop lithium battery plant in South Carolina
Feb 14 (Reuters) - EnerSys 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)
