Bosch will invest $200 million to build fuel cells for electric trucks in South Carolina

Bosch will invest 0 million to build fuel cells for electric trucks in South Carolina


The Robert Bosch GmbH logo sits on the exterior of Messe Stuttgart exhibition center as automobiles pass in Stuttgart, Germany, on Monday, July 18, 2016.

Michael Nagle | Bloomberg | Getty Images

German auto supplier Bosch said Wednesday it will invest more than $200 million to build fuel cells for electric trucks in South Carolina.

Bosch plans to expand an existing factory in Anderson, South Carolina, to build the fuel cell “stacks” starting in 2026. The investment is expected to create at least 350 new jobs at the factory, the company said.

Bosch’s North America president, Mike Mansuetti, said the company decided to invest in U.S. production to support “growing demand” from its automotive customers in North America.

“As our success in acquiring e-mobility business here in the region continues, it’s critical that we have local production capabilities to support our local customers,” Mansuetti said in a statement.

Fuel cells chemically convert the energy in hydrogen gas to electricity, emitting only water. While expensive to build, the devices are finding applications in large electric vehicles that would otherwise require excessively large and heavy battery packs, such as semitrucks, construction equipment and military vehicles.

The fuel cells built by Bosch in South Carolina will be used to power electric heavy trucks, including forthcoming models from Arizona-based EV truck startup Nikola, the company said.

Nikola has begun pilot testing of a fuel cell-powered version of its Tre electric semitruck, with about 500 miles of range. The company expects to begin production of the fuel cell-powered Tre by the end of next year, and to launch a second fuel cell truck with 900 miles of range in 2024.



Source

How the ‘K-shaped’ economy is showing up at two big U.S. gyms
Business

How the ‘K-shaped’ economy is showing up at two big U.S. gyms

Two of the largest U.S. gym operators delivered the same headline in their latest earnings reports: strong growth. But beneath the surface, Life Time Group Holdings and Planet Fitness told very different stories about the American consumer. They highlighted a widening divide between higher-income households that continue to spend freely and more price-sensitive consumers who […]

Read More
NASA is sending its first Black and first female astronauts to the moon
Business

NASA is sending its first Black and first female astronauts to the moon

NASA is preparing to launch a mission to the moon — and it’s making history for more reasons than one. The space agency’s Artemis II launch marks the U.S.’s first journey back to the moon in more than 50 years. It will also carry the first Black astronaut and the first female astronaut to travel […]

Read More
WBD employees fear coming wave of job losses as Paramount tops Netflix’s bid to acquire company
Business

WBD employees fear coming wave of job losses as Paramount tops Netflix’s bid to acquire company

The Warner Bros. Discovery board may have enriched its shareholders Thursday when it chose Paramount Skydance‘s acquisition offer over Netflix‘s, but it also terrified a lot of its employees. While some of those people own WBD shares and may prefer the financials of Paramount’s $31-per-share bid to Netflix’s $27.75-per-share offer, CNBC spoke to 10 WBD […]

Read More