SK Innovation Considers Building Electric Car Battery Plant in U.S.

SK Innovation is considering building an electric vehicle (EV) battery plant in the U.S.

SK Innovation said that the company was studying a plan to set up an EV battery plant in the U.S. in order to meet increasing orders from global OEM companies.

According to industry sources, SK Innovation is evaluating two or three candidate plant sites in the U.S. However, SK Innovation explained that the company did not yet decide the details of the plan, including the size of the site for the plant and the production volume of the new plant.

If SK Innovation builds a new plant in the U.S., it will have a production base in the U.S. following those in China and Europe like LG Chem. SK Innovation began to build its European plant in Hungary early this year and is actively expanding into China and the U.S.

In addition, SK Innovation is employing a bold strategy of building a production base before, rather than after, landing orders. It remains to be seen whether the strategy will pay off.