Syrah Resources gets $107 mln U.S. loan for Louisiana EV battery plant

Date Published04/19/2022
Author NameErnest Scheyder
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Syrah Resources
Parent companySyrah Resources
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):98
What product(s) and/or service(s) were outsourced domestically?Manufacturing
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2040
Domestically, the work will be done:In-house
Capital investment ($):107
Country(ies) from which reshored:Australia
State(s) reshored to:LA
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredelectric vehicle battery parts; graphite anodes
What non-domestic negative factors made offshoring less attractive?Supply chain interruption risk/Natural disaster risk/Political instability
What domestic positive factors made reshoring more attractive?Government Incentives
Government Incentive dollar amount:U.S. Department of Energy is lending $107 million
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