South Central Kentucky Announces Second Largest Economic Development Project in State History | News

BOWLING GREEN, Kentucky, April 13, 2022 (GLOBE NEWSWIRE) — Envision AESC, a world-leading Japanese electric vehicle battery technology company, along with Governor Andy Beshear and the Bowling Green Area Chamber of Commerce, today announced its $2 billion investment to build a new state-of-the-art approximately 3 million square foot gigafactory in the Kentucky Transpark in Bowling Green, Warren County. The 30 GWh plant will create 2,000 new skilled jobs for the region, producing cells and battery modules to power the next generation of electric vehicles produced for several global automakers. This project is not only the second largest investment ever made in Kentucky, but also the largest in history for south central Kentucky.

Governor Beshear said, “We are thrilled that Envision – the world’s leading EV battery technology company – has selected the Kentucky team. Envision is making the second-largest economic development investment Kentucky has ever seen, investing $2 billion to build a new, state-of-the-art EV battery gigafactory in Bowling Green. Even better: this project will create 2,000 great, future-oriented jobs for residents of the Warren County area. And with this investment, Envision will generate a 30 GWh site, bringing Kentucky’s production to 116 GWh, making the Commonwealth the nation’s leading producer of electric vehicle batteries. “I am very grateful for the work that began years ago through Chamber initiatives like SCK LAUNCH to ensure our future workforce is ready to meet the growing demands for talent from the community. “, said executive judge Mike Buchanon. “It’s this type of forward thinking that attracts world-class companies like Envision AESC.

The economic impact of this project will generate $20 billion over the next decade and will also support approximately 5,249 new jobs in the community in addition to those who will work at their facility. At full employment, this project will generate more than $233 million annually in new expenditures in the community.

Envision AESC Group CEO Shoichi Matsumoto said, “We are excited to partner with Kentucky and Bowling Green on our next-phase battery strategy to power next-generation electric vehicles in the United States. . This major investment builds on our commitment to the US market, supports the growth of the electrification supply chain, and secures high-value jobs for future generations in the region. This commitment takes us a step closer to our ambition to manufacture longer-range, high-performance batteries for a wide range of automakers around the world to support the transition to electric vehicles.

Jeff Deaton, Managing Director of Envision AESC US, said, “The new plant will produce batteries for a growing number of electric vehicle manufacturers and create 2,000 new high-value jobs in the region when it operates at full capacity. . The Bowling Green area has an exceptional automotive workforce today, as well as the future talent pipeline needed, and we’re excited to support that with new jobs in the high-growth segment of the electrification. The addition of this new facility will make Kentucky the new gigafactory capital of the United States, well positioned to meet the expected growth of electric vehicles and attract future investment.

“The scale of this project is unlike anything our community has ever seen before,” said Bowling Green Mayor Todd Alcott. “This announcement showcases the largest amount of investment, job creation and facility size in our history. This is phenomenal for the future of our region!

“Envision AESC is an innovative company that does incredible work around the world, and we are thrilled with their decision to locate in south central Kentucky,” said Ron Bunch, president and CEO of the Bowling Green Area Chamber of Commerce. “The collaboration of our community leaders is imperative to land projects of this magnitude, and we are fortunate to work with the best.”

The newly announced facility marks the next stage of growth for Envision AESC, a global player in advanced battery technology and smart, digitized, low-carbon battery factories. It will produce next-generation battery cells with 30% higher energy density than the current generation, reduced charging time, and increased range and efficiency for electric vehicles, powering up to 300,000 vehicles per year by 2027.

These high-tech capabilities will increase the cost competitiveness and technological expertise of EV battery production in Kentucky and the United States, making electric vehicles more accessible and affordable for motorists. The gigafactory will also be powered by 100% renewable energy, supplied by onsite generation and supplied by the Tennessee Valley Authority (TVA), ensuring that the factory helps advance the decarbonization of the state’s industrial sector. Envision AESC’s investment will generate a 30 GWh site, increasing Kentucky’s production to 116 GWh, making the Commonwealth the nation’s largest producer of electric vehicle batteries.

Year-to-date, the Bowling Green Area Chamber of Commerce has closed two economic development projects in south-central Kentucky, totaling more than $2 billion in capital investment. Site Selection magazine has ranked Bowling Green among the top six Tier 2 metros for nine consecutive years, including a number one ranking in 2018 and second place this year. Additionally, Site Selection Magazine awarded the Bowling Green Area Chamber of Commerce the prestigious Mac Conway Award, placing it among the top twenty economic development organizations in the United States for their performance in 2020.

About Envision AESC: Envision AESC is a leading battery technology company headquartered in Japan, engaged in the research, development, design, manufacture and sale of high power batteries and energy storage batteries. Envision AESC has 4,000 employees and 10 production plants in Japan, USA, UK, China and France. Over the past 12 years, Envision AESC has produced high-performance, extended-range batteries for more than 650,000 electric vehicles in 44 countries, achieving a record of “zero critical battery malfunctions”. In June 2021, Envision AESC was again named to the list of “Global Tier 1 Battery Companies” by Benchmark, a leading UK-based lithium-ion battery supply chain research organization.

Envision AESC invests heavily in next-generation technology to drive innovation and works with its strategic partners to continually push the boundaries of performance, safety and efficiency. Its teams work with strategic partners to continuously improve the company’s global leadership in product development, quality and sustainable processes. Learn more at envision-aesc.com/us/

About South Central Kentucky Economic Development: South Central Kentucky Economic Development is an entity of the Bowling Green Area Chamber of Commerce, a nationally ranked 5-star accredited chamber. Located at the center of a 34-state distribution area in the eastern United States, south-central Kentucky is a prime location for manufacturing and distribution facilities. South-central Kentucky is within a day’s drive of 60 percent of the nation’s population, personal incomes, and business establishments. Bowling Green ranks second in the United States for best manufacturing city. Over the past decade, the region has captured more than four billion euros in capital investment, creating thousands of jobs in the region. To learn more, please visit https://www.southcentralky.com/

Contact: Ron Bunch President and CEO 270-901-4602 ron@bgchamber.com