Focus on EV Battery

SK Innovation’s battery plant in Seosan, South Chungcheong Province.
SK Innovation’s battery plant in Seosan, South Chungcheong Province.

 

SK Innovation Co. announced on March 6 that its board of directors approved the plan to build the fifth and sixth battery production lines at the end of last month and it will begin the construction in earnest.

The new production facilities will churn out EV cells with a combined 2 gigawatt hours (GWh). Once the construction is completed, the company’s total battery capacity will be doubled to 3.9GWh from the current 1.9GWh. This is capable of powering 140,000 EVs a year. The two production lines will be established in the second battery plant in Seosan, South Chungcheong Province, by the first half of next year, with operation starting from the second half of next year.

In particular, SK Innovation claims it has already secured an order backlog that will keep the facilities running fully, including the new facilities, for the next seven years.

In addition, SK Innovation spares no investment to strengthen “Soft Power” in order to grow its EV battery business. The company is expanding research and development to secure world-level technologies and investing in hiring talent and improving training programs.

Kim Joon, president of SK Innovation, said, “By strengthening the global and domestic EV battery market invasion, we will jump into one of the top three battery manufacturers in the world in the future.”

 

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