EV Battery Maker Announces Georgia Plant

An electric vehicle battery maker plans to build a battery manufacturing plant in Jackson County, Georgia.

South Korea’s SK Innovation said it plans to spend $1.67Bn on construction of the facility, which it hopes will allow it “to better compete in the growing global EV battery market”. It claimed the plant’s construction would create over 2,000 jobs and would take place over two phases, the first of which would begin in early 2019. CEO Jun Kim said: “We are excited to bolster our presence in the US by making this investment … [it] will allow us to work with the growing automotive industry in the south-eastern US, ensuring future partnerships for years to come”.

US Secretary of Commerce Wilbur Ross claimed the move constituted “undeniable proof that President Trump’s economic policies are working for the American economy and American worker”. These comments came despite National Economic Council Director  Larry Kudlow’s announcement on Monday that the Trump administration plans to terminate federal tax credits for EVs by 2021.

 


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