The South Korean lithium-ion battery manufacturer completed its first Chinese cell plant in Changzhou, Jiangsu Province, China. The 7.5 GWh factory which is enough to supply batteries for 150,000 EVs., is a joint venture project with China’s Beijing Automotive Industry Holdings (BAIC) and Beijing Electronics Holding. SK Innovation holds a 49% share, while the other two companies 51%.
The latest plant will boost SK Innovation’s overall EV battery production capacity to 12.2 Gwh, as it has a 4.7-GWh battery plant currently operating in South Korea. The company is also expecting to complete a 7.5-GWh battery plant in Hungary in the near future.
SK Innovation invested 1 billion yuan in 2013 to set up an EV battery joint venture named BESK with Beijing Automotive Group and Beijing Electronics to tap deeper into the world’s largest EV market. BEST is BESK’s wholly-owned subsidiary.
SK Innovation owns a 49 percent stake in BEST, with the rest held by Beijing Automotive Group and Beijing Electronics. (Yonhap)
The updated list of SK Innovation battery projects and production capacity roadmap:
- Existing 4.7 GWh plant in Seosan, South Chungcheong Province, South Korea
- New 7.5 GWh battery plant in Changzhou, China (expected in 2020)
- New 7.5 GWh battery plant in Hungary (expected in 2020).
- New battery plant (plan) in Yancheng, China
- New battery plant in the U.S. (expected in 2022)
- second battery plant in Komarom, Hungary (expected in 2022)
- New LiBS plant in China (expected 2020)
- New LiBS plant in Poland (expected in 2021)
SK Innovation production capacity roadmap:
- Today: around 5 GWh annually
- By the end of 2019: 20 GWh annually
- 2020: 40 GWh annually
- 2022: 60 GWh annually
- 2025: 100 GWh annually and an order backlog of 700 GWh
Source: pulsenews.co.kr, Koreaherald
