EAM to Build $650M EV Battery Plant in North Carolina

The $650 million manufacturing plant will produce high-quality EV batteries. Image courtesy of Epsilon Advanced Materials

Epsilon Advanced Materials will build a $650 million plant in Brunswick County, N.C. The graphite anode manufacturing facility will encompass 1.5 million square feet and is the first such investment in the U.S. electric vehicle battery industry from an India-based company. Construction is scheduled to begin in 2024.

The developer is already looking for local raw material suppliers and transportation partners. Epsilon’s North Carolina facility will produce 50,000 tons of graphite anode per year. Operations are scheduled to begin in 2026, while full production capacity is estimated for 2031. The project is expected to generate roughly 500 new jobs for the Greater Wilmington area.

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The development is a milestone for Project Resilience—a multi-organizational initiative to bring and support Epsilon Advanced Material’s investment in the state, according to Brunswick County Government. The upcoming manufacturing facility will rise on a 150-acre site, located within Mid-Atlantic Industrial Rail Park, in Northern Brunswick.

Epsilon Advanced Materials’ property will be close to the Wilmington Port and to multiple automotive suppliers and vehicle manufacturing facilities. The project’s location also allows for easy access to the local workforce.

The facility will also help resolve supply chain concerns for the automotive industry, while offering the capabilities to manufacture both natural and synthetic graphite in a faster way for the growing electric vehicle battery market, added Epsilon Advanced Materials CEO Sunit Kapur, in prepared remarks.

EV projects grow in the Carolinas

Last year, Vietnam-based electric vehicle manufacturer VinFast received $1.2 billion in incentives from the State of North Carolina for the development of its first North American manufacturing plant. This marked the largest economic incentive package in the state’s history. VinFast chose Chatham County for its $4 billion facility, which broke ground in August and is expected to become operational in 2025..

In March, Scout Motors Inc. announced plans for a $2 billion manufacturing facility near Columbia, S.C. The company’s first manufacturing plant is being developed on a 1,600-acre site and is expected to start production by the end of 2026.