February 28, 2019 11:47
SK Innovation has decided to build a second plant for electric vehicle batteries in Hungary before its first one has even been completed.
SK Innovation said Wednesday that it will invest W1 trillion in the second plant. It will be built near its first factory, which is under construction in Kamarom, 110 km northwest of Budapest (US$1=W1,119).
The new plant will have an annual capacity of 9 to 10 gigawatt-hours, which is sufficient to supply 150,000 EVs. SK Innovation aims to complete construction in 2022.
The company started to build its first Hungarian plant in March last year with a budget of W840 billion to produce 7.5 gigawatt-hours of batteries annually. It is also currently building a W1.9 trillion plant in the U.S. state of Georgia and another W820-billion one in Changzhou, China.
At present the combined capacity of SK Innovation's EV battery plants is 4.7 gigawatt hours per year, and it plans to increase that to 55 gigawatt hours by 2022.
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