SK Innovation to invest $2.5 billion to build an electric vehicle battery factory in China

A reliable source in China has reported that SK Innovation is preparing to invest up to $2.53 billion to build a new electric vehicle battery factory in China, the source said. It has already been supported by the local government of China.

Interestingly, SK Innovation will have a total of three battery plants in China, with the new plant being built alongside those currently being built in Europe and America. Because they aim to be a battery supplier to leading global electric vehicle manufacturers with a capacity of 500 GWh per year by 2030, they are now expected to enter into a deal. With big car manufacturers like Ford already, and Ford itself has quite a fixed production plan, they have to rush to build a battery factory to keep up with customer demand.

Source: insideevs


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