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A Japanese electric vehicle battery technology company will build a $2 billion factory in Kentucky, creating 2,000 jobs in a move that will position the state as a leader in battery production, Gov. Andy Beshear said Wednesday.The Envision AESC plant at Bowling Green in western Kentucky will produce battery cells and modules to power the next generation of electric vehicles, the governor said.The project will cement the Bluegrass State’s leading role in the automotive industry, Beshear said.It follows last year’s announcement that Ford and its battery partner will build twin battery plants outside the Glendale community in central Kentucky. That mega-project will create 5,000 jobs to produce batteries for the automaker’s next generation of electric vehicles.”So, once again, a company that is redefining the automobile industry is betting their future on Kentucky and our workforce,” Beshear said Wednesday.Envision AESC Group CEO Shoichi Matsumoto said the Kentucky investment is part of the company’s next phase of battery strategy to power electric vehicles in the U.S.The announcement represents Kentucky’s second-largest economic development investment, according to the governor’s office.The Envision AESC announcement comes months after Bowling Green was among several Kentucky cities hard hit by tornadoes last December. Parts of Bowling Green were devastated by the storm.Automakers sold nearly 4.6 million electric vehicles worldwide last year. LMC Automotive, an industry consulting firm, expects that to rise to nearly 7 million this year and to more than 15 million by 2025. Still, that will be only about 15% of global vehicle sales.In the U.S., LMC says just over 400,000 EVs were sold last year. The company expects that to rise to more than 2.2 million by 2025. Still, that’s only about 13% of new vehicle sales.
A Japanese electric vehicle battery technology company will build a $2 billion factory in Kentucky, creating 2,000 jobs in a move that will position the state as a leader in battery production, Gov. Andy Beshear said Wednesday.
The Envision AESC plant at Bowling Green in western Kentucky will produce battery cells and modules to power the next generation of electric vehicles, the governor said.
The project will cement the Bluegrass State’s leading role in the automotive industry, Beshear said.
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It follows last year’s announcement that Ford and its battery partner will build twin battery plants outside the Glendale community in central Kentucky. That mega-project will create 5,000 jobs to produce batteries for the automaker’s next generation of electric vehicles.
“So, once again, a company that is redefining the automobile industry is betting their future on Kentucky and our workforce,” Beshear said Wednesday.
Envision AESC Group CEO Shoichi Matsumoto said the Kentucky investment is part of the company’s next phase of battery strategy to power electric vehicles in the U.S.
The announcement represents Kentucky’s second-largest economic development investment, according to the governor’s office.
The Envision AESC announcement comes months after Bowling Green was among several Kentucky cities hard hit by tornadoes last December. Parts of Bowling Green were devastated by the storm.
Automakers sold nearly 4.6 million electric vehicles worldwide last year. LMC Automotive, an industry consulting firm, expects that to rise to nearly 7 million this year and to more than 15 million by 2025. Still, that will be only about 15% of global vehicle sales.
In the U.S., LMC says just over 400,000 EVs were sold last year. The company expects that to rise to more than 2.2 million by 2025. Still, that’s only about 13% of new vehicle sales.
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