SK Innovation pours another trillion won into the U.S.

Home > Business > Industry

print dictionary print

SK Innovation pours another trillion won into the U.S.

SK Innovation, a refiner and chemical company, said Friday it will invest 1 trillion won ($860 million) to build its second car battery plant in the United States.

The company has already invested 1.9 trillion won to build a car battery plant with a capacity of 9.8 gigawatt hours in Jackson County, Georgia.

It has decided to make an additional investment to build a second plant in the United States to meet soaring demand for all-electric vehicles there, a company spokesperson said.

SK Innovation Chief Executive Officer and President Kim Jun unveiled the plan in an interview with Reuters at CES in Las Vegas, according to the spokesperson.

The CEO said the company is also considering expanding its No. 2 plant in Hungary, currently under construction, to better serve its customers.

SK Innovation said the investment plans are subject to approval expected be granted at board meetings in the first half of the year.

Currently, the company has plants in operation in Korea, China and Hungary and two under construction in the United States and Hungary. When completed, the five plants will have a combined capacity of 38.5 gigawatt hours.

Yonhap

More in Industry

SK Telcom merges two security services subsidiaries

KDB requests sit-down with Asiana unions about takeover

Are you Taycan to me?

Facebook hit with $6 million penalty for customer data leak

Spinoff to give LG chairman's uncle his own conglomerate

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now