The funding supports development of a South Carolina facility to boost domestic lithium cell manufacturing capacity.
EnerSys (ENS) announced it received a revised $150M grant from the U.S. Department of Energy to develop a lithium cell manufacturing plant in South Carolina. The company disclosed the award after markets closed Thursday.
The grant follows prior federal efforts to expand domestic battery production amid rising demand for electric vehicles and energy storage. EnerSys did not provide a timeline for plant completion or additional investment details.
Shares of EnerSys were inactive in after-hours trading following the announcement.