SEOUL (Reuters) – South Korea’s SK Innovation said on Monday it will spend 1.14 trillion won ($1.01 billion) to build its first electric vehicle (EV) battery plant in the United States to better compete in the global EV battery market.
The plant will have an annual capacity of 9.8 gigawatt-hours of batteries. SK Innovation will begin construction in the southeast U.S. state of Georgia in early 2019, with production targeted for 2022, the company said in a statement.
Month - SK - Innovation - EV - Battery
Last month, SK Innovation said it was considering building an EV battery plant in the United States to win customers in one of the world’s top markets for electric vehicles.
SK Innovation, which owns South Korea’s top refiner SK Energy [SKENGG.UL] and a unit of the country’s No.3 conglomerate, supplies its batteries to several global automakers,...
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