Epsilon Advanced Materials (EAM) announces $650 million investment in North Carolina factory to boost U.S. electric vehicle battery industry
27 October 2023
Epsilon Advanced Materials India's leading battery materials company, announced today alongside North Carolina Governor Roy Cooper at the Brunswick County Community College plans to build a $650 million anode plant in Brunswick County, North Carolina. This factory represents the first and largest Indian investment in the electric vehicle battery industry in the United States.
“We are proud to have North Carolina at the center of our U.S. manufacturing strategy. With its favorable geographic location, business support policies, and availability of a skilled talent pool, we believe investment in the state is a major step toward creating transportation solutions for durable energy. said Vikram Handa, Managing Director of EAM.
Governor Cooper said North Carolina supports EAM and the development of its new 1.5 million square foot facility, which is expected to create approximately 500 new jobs in the Wilmington area. “North Carolina continues to lead the way in the transition to a clean energy economy by attracting good-paying jobs from great companies like Epsilon that make our state stronger and healthier. " says Cooper. “This historic investment will create 500 clean energy jobs in Brunswick County, helping our economy and environment. »
“Having a world-class green facility in North Carolina addresses the supply chain issues the automotive industry has experienced in recent years,” said Sunit Kapur, CEO of EAM. “We are proud that with our technological ability to produce both natural and synthetic graphite, we will be able to supply graphite anodes to the growing electric vehicle battery industry in a short time, more reliably and efficiently. at a competitive cost, without import problems. »
The company plans to begin work in 2024 and start production in 2026, and reach full capacity in 2031. When operational, this plant will use green technologies to produce high-capacity anode materials for electric vehicle batteries.
Locating a manufacturing facility in Brunswick County, North Carolina offers strategic advantages, such as proximity to the Port of Wilmington, automotive OEMs, Southeast vehicle manufacturing plants and the local university. This site also helps simplify logistics, reduce costs and penetrate the growing electric vehicle market. The skilled local workforce, with support from the local university, and potential economic incentives improve the business environment, while geographic specificities provide resilience and sustainability.
Localizing the battery production ecosystem will not only provide strategic advantages, but is also part of a broader goal of helping automakers take advantage of subsidies for electric vehicles under U.S. law on Reducing Inflation (IRA). This location will boost domestic production, which will create well-paying jobs and promote economic growth within the community.
These efforts will help develop more resilient, secure, and reliable supply chains, which are critical to the sustainability and competitiveness of the U.S. electric vehicle industry.
EAM, which is a wholly owned subsidiary of Epsilon Carbon Pvt Ltd, is already in talks with local raw material suppliers and transportation partners for its operations in North Carolina. When fully operational, the EAM plant will produce 50,000 tonnes per annum (TPA) of graphite anodes.