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SK Innovation, Deciding to Invest for Europe’s Third Battery Plant in Hungary

NSP NEWS AGENCY, By soon ki Lee Journali, 2021-01-30 09:19 END7
#SKInnovation #Europe #ThirdBatteryPlant #Hungary #Invest

(Seoul=NSP News Agency) soon ki Lee Journalist = SK Innovation held a board of directors on the 28th and decided to invest $11.4 billion(about 1.27 trillion won) to SKBH(SK Battery Hungary), a local corporation, to build a new production plant in Europe.

The third plant in Europe, which was decided to invest this time, is expected to be built in Ivancsa, Hungary, with an annual capacity of 30GWh. SK Innovation’s first and second factories in Europe are also located in Hungary(Komarom). In terms of investment, it is the largest battery plant that SK Innovation is building in Europe.

To this end, SK Innovation secured a site of about 700,000 square meters(about 210,000 pyeong) in Ivancha city. This is an area of 98 soccer fields.

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The third plant in Europe is a long-term project that construction will begin in the third quarter of 2021 and that investments will be made sequentially until 2028, totaling $22.9 billion(about 2.6 trillion won).

With this investment decision, SK Innovation will take a step closer to its mid- to long-term goal of becoming a world-class electric vehicle battery company with a production capacity of ‘125GWh+α per year in 2025’.

NSP News Agency soon ki Lee Journalist s8789@nspna.com
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