SEMCORP will build a manufacturing facility in Sidney, Ohio, to produce EV battery components, with an investment of $916 million.
Shanghai-based company SEMCORP plans to invest $916 million in a manufacturing plant in Sidney, Ohio, the company said on Thursday.
The Ohio plant will make separator film, a key component in batteries for electric vehicles.
Paul Lee, SEMCORP’s Co-Founder, Chairman and CEO, said, “The Sidney facility is one of the biggest investments in our company’s history because we know the United States is strongly committed to building the supply chains for EVs and energy storage here at home,” he added “Our Sidney site will be America’s largest manufacturer of separator film for EV batteries. We look forward to working hand-in-hand with state and local leaders to make the large-scale domestic production of this component a reality.” According to Yahoo Finance.
“SEMCORP chose the Sidney location because of the state’s impressive commitment to vocational education, preparedness for a large-scale project like ours, the strong work ethic in the region, and proximity to key customers,” said James Shih, SEMCORP’s Group Vice President of Global Projects.
Semcorp, a part of Yunnan Energy New Material Co, is the world’s largest lithium-ion battery separator film supplier.
The facility is reportedly going to create nearly 1,200 jobs with $73 million in annual payroll. However, the timeline for construction or production was not disclosed.