This contract is based on the $15.1m grant awarded earlier in August last year, as part of the American Recovery and Reinvestment Act Electric Drive Vehicle Battery and Component Manufacturing Initiative plus a $16.6m matching investment by Kemet.
Kemet said that it plans to have two production lines operational by the last quarter of 2010 with an additional two lines coming on board by the end of 2011 and another two by the end of 2012. The additional capacity resulting from this grant is expected to create over 110 new jobs in South Carolina.
Daniel Persico, vice president of strategic marketing and business development at Kemet, said: “The grant will allow Kemet to install capacity in the US for DC bus capacitors, which reduces the supply chain risk that electric drive vehicle manufacturers face with the current dependence on non-US suppliers for this key subcomponent.
“This grant will position Kemet as a key player in this rapidly developing and growing industry.”
