SK Innovation will produce more electric-car batteries

SK Innovation said Thursday that it will expand its production plant for electric-vehicle batteries located at Seosan, South Chungcheong, as the company plans to strengthen its battery business. After the expansion, the manufacturer said it will be able to produce batteries for 40,000 vehicles a year.

“We have secured supplies to sustain production for seven years with the plant running 24 hours a day,” said Kim Hong-dae, head of the battery division. “Our battery business is growing rapidly.”

SK Innovation has supplied batteries to about 20,000 cars manufactured by both local and foreign automakers last year, and the company said it will supply 30,000 cars this year.

The battery maker inked a deal with Mercedes-Benz to supply battery cells earlier this year and has been supplying its products for Kia Motors’ Soul EV and China’s Beijing Auto EV200.