Penetrating China's EV Battery Market
SK Innovation will supply electric vehicle (EV) batteries to BAIC Group in China.
SK Innovation has signed a contract to supply EV batteries with Arcfox, BAIC’s premium EV brand. SK Innovation’s batteries will be loaded onto the Mark 5, a sports utility vehicle (SUV) of Arcfox.
BAIC Group is the world's third-largest EV seller following Tesla and BYD.
The batteries to be delivered by SK Innovation consist of nickel (80 percent), cobalt (10 percent), and manganese (10 percent). They are characterized by high stability despite the high portion of nickel. SK Innovation used its own stabilization technology for the products.
The batteries will be produced at SK Innovation’s battery factory in Jiangsu Province, China, which was completed last year in cooperation with BAIC Group and Beijing Electric.