Launches a US$300 Mil. Investment Fund
SK Holdings will join hands with China's Geely Auto Group to invest in future mobility companies.
SK Holdings established the New Mobility Fund with Geely, the No. 1 private automaker in China. The two sides invested US$30 million each in the fund, whose total size is US$300 million. The two companies plan to attract a variety of global investors, including European banks and pension funds in Asia.
The fund will make investments in promising companies specializing in self-driving cars, connected cars, car sharing, and electric vehicles among others.
SK Holdings, the holding company of SK Group, has transformed into an investment company that specializes in discovering future growth engines for the group. It has been investing mainly in four core areas: environmental technology, bio-technology, green technology and high-tech materials. It plans to sharpen its competitiveness in the future car sector by cooperating with Geely in hydrogen fuels, batteries and self-driving technology.