FRANKFORT, Ky. — Gov. Andy Beshear on Wednesday announced a $2 billion investment by Envision AESC, a Japanese electric vehicle batter tech company, to build a sprawling gigafactory in Bowling Green's Kentucky Transpark, marking the second largest economic investment in Kentucky's history.
What You Need To Know
- Envision AESC, a major Japanese EV battery producer, is building a $2 billion facility in Bowling Green
- The investment marks the second largest in Kentucky's history
- Officials said it will provide a $20 billion economic impact over the next decade
- 2,000 jobs will be created at the gigafactory in Warren County
Beshear was joined by local officials and Envision AESC leaders for the announcement in Frankfort.
The plant will create 2,000 skilled jobs in southcentral Kentucky, Beshear said. Envision AESC executives said between tech centers and WKU, Bowling Green already has the needed training infrastructure in place.
“We are thrilled that Envision – the world’s leading EV battery technology company – has picked Team Kentucky," Beshear said.
The 512-acre plant will be powered by 100% renewable energy — partly through on-site solar panels and part by the Tennessee Valley Authority.
Bowling Green's gigafactory will play a major part in producing battery cells and modules to power EVs produced by several auto manufacturers, according to the Bowling Green Chamber of Commerce.
The project's impact is expected to generate $20 billion over the next decade and create over 5,000 new jobs in the community–beyond those working at the facility.
“The scale of this project is like nothing our community has ever seen before,” said Bowling Green Mayor Todd Alcott. “This announcement boasts the largest investment amount, jobs creation, and facility size in our history."
Alcott also called the news "phenomenal for the future of our region."
Envision AESC CEO Shoichi Matsumoto said the company's investment in Kentucky signals their commitment to the U.S. market and aims to support growth of the electrification supply chain.
"This commitment takes us one step further towards our ambition to make high-performance, longer-range batteries for a diverse range of automotive manufacturers worldwide to support the EV transition," he said.
The gigafactory will produce next-generation battery cells with 30% more energy density than the current generation, reduced charging time, and increased range and efficiency for EVs, powering up to 300,000 vehicles annually by 2027, Envision AESC said.