Overview

• Epsilon Advanced Materials (EAM), an Indian EV battery materials producer, announced its plan to build its first U.S. manufacturing plant in North Carolina in 2026 at a cost of $650 million. The plant will create synthetic graphite anode material necessary for EV batteries and other energy storage systems.
• Upon becoming fully operational in 2031, the plant will have an annual production capacity of 50,000 tons of synthetic graphite. Establishing this plant in the U.S. will allow EAM to serve the growing EV battery industry more efficiently and at a competitive cost.
• The new facility is expected to generate 500 new jobs with an average annual salary of $52,264, which is above the current average salary in Brunswick County, where the facility will be located.
• State and local governments in North Carolina have offered more than $33 million in economic incentives for EAM to establish this facility. The incentives include land, infrastructure improvements, training, and cash payments. Furthermore, $3.4 million of these incentives, spread over 12 years, are contingent on EAM meeting certain job-creation and investment thresholds by the end of 2028.
• This planned North Carolina facility is part of EAM's strategy to reduce reliance on imported Chinese materials for EV battery production and to establish a reliable domestic supply chain for EV batteries in the U.S.