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An announcement from EnerSys ( (ENS) ) is now available.
EnerSys is set to negotiate a $199 million award from the U.S. Department of Energy to construct a lithium-ion cell gigafactory in Greenville, SC, aimed at bolstering domestic battery production. This investment is spurred by the Bipartisan Infrastructure Law and is expected to create up to 500 jobs, with a focus on serving commercial, industrial, and defense sectors. The company plans a total investment of $615 million for the factory, with additional funding from local incentives and the Inflation Reduction Act. EnerSys anticipates beginning construction in 2025, with production starting in 2028, and will further discuss the gigafactory’s development in an upcoming webcast.
Find detailed analytics on ENS stock on TipRanks’ Stock Analysis page.
