Tesla Cofounder Aims To Rev Up U.S. EV Battery Market With $3.5 Billion South Carolina Plant

Date Published12/14/2022
Author NameAlan Ohnsman
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Redwood Materials
Parent companyRedwood Materials
Type of work Manufacturing
Reshoring category:Reshoring
Total number of jobs (added or to be added):1500
Year reshoring announced:2022
Year reshoring implemented or to be implemented:2023
Capital investment ($):3500
City reshored to:Charleston
State(s) reshored to:SC
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredanodes, cathodes
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?Eco-system synergies, Government Incentives, Infrastructure, Image/brand, Manufacturing/engineering joint innovation (R&D), Proximity to customers/market, IRA, local supply chain
Government Incentive dollar amount:900
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