South Korea SK Innovation Builds New Electric Vehicle Battery Plant in China investment of 4.9 billion yuan

December 6 news, according tomedia reports, South Korea’s SK Innovation (SKI) recently said that in Changzhou, Jiangsu Province, a new lithium-ion battery plant for pure electric vehicles has been completed. The investment in the plant is 820 billion won (about 4.9 billion yuan).

South Korea SK Innovation Builds New Electric Vehicle Battery Plant in China investment of 4.9 billion yuan

The plant produces batteries for 150,000 cars a year, based on ordinary pure electric vehicles.

“Beijing Electronic control Eskai Technology Co., Ltd.” is responsible for the operation of the plant, which is jointly owned by SK Innovation and Beijing Automotive Group and Beijing Electronics Holdings, an auto parts company. The plant will be mainly supplied to BAIC in the first half of 2020.

SK Innovation, which currently has an annual capacity of only 4.7 gigawatt hours (GWh), is planning to invest in equipment in China, Hungary and the United States, and is expected to expand to eight times its current capacity by 2022 if it is fully operational.

SK Innovation, formerly Korea’s first oil refining and chemical company, Korean Petroleum, currently covers the oil development, refining, chemical, lubricants and future energy industries.

SK Innovation started the hybrid electric vehicle dedicated lithium-ion battery business in 2005 and has been in production since 2006. In 2010, it became a designated supplier to The BlueOn and Kia Ray, South Korea’s first all-electric vehicle, and in 2012 it supplied batteries to the SLS AMG E-Cell, the first all-electric vehicle in Mercedes-AMG.

According to the official website, SK innovation has the electrode, separation film, battery pack, battery pack and other battery manufacturing needs of the entire value chain.

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