SK Innovation, a South Korean battery supplier for Volkswagen and Ford, said on Tuesday it will spend $727 million to build a second EV battery plant in the United States. Construction is expected to begin in July, with battery production slated to start in 2023.
SK innovation Stories April 28
The Korea Herald reports that pre-pandemic shortages of battery supply, which caused delays for European automakers, have been made worse by the global crisis. The situation became urgent enough for the Polish government to waive travel restrictions, allowing 200 LG Chem technicians to resume expansion of its battery gigafactory in Wroclaw.
SK innovation Stories April 30, 2019
LG Chem, one of the top battery suppliers for electric vehicles, filed federal lawsuits against SK Innovation (SKI), another top battery supplier for electric vehicles, over allegedly stealing trade secrets. expand full story
SK innovation Stories January 7, 2019
SK Innovation already announced an important investment in a battery factory in the US, but it’s now considering increasing that investment — maybe even enough to compete with Tesla’s Gigafactory 1 in Nevada. expand full story
SK innovation Stories December 4, 2018
Battery manufacturing companies are adding capacity to try to keep up with automakers going electric and the increasing demand for electric vehicles.
With this trend, SK Innovation announced today a new $1.67 billion investment to build an electric vehicle (EV) battery gigafactory in the US. expand full story
SK innovation Stories October 25, 2018
Volkswagen is currently trying to figure out a way to secure large quantities of battery cells to support its critical electric vehicle ambitions.
After previously ruling out manufacturing its own battery cell, the German automaker is now reportedly going to build its own battery cell gigafactory (a battery factory with an output in the GWh) in partnership with SK Innovation. expand full story
SK innovation Stories November 30, 2017
Korean energy company SK Innovation announced today that they will build a gigafactory to manufacture electric car battery cells in Hungary in order to support the electric vehicle plans of European automakers. expand full story
SK innovation Stories March 6, 2017
Korea-based SK Innovation announced today that it will expand its battery production capacity for electric vehicles. The company’s battery division manufactures the battery cells for the Kia Soul EV, some electric vehicles made in China, and it won a contract to supply batteries for Mercedes’ vehicles last year.
Encouraged by a strong backlog that the company claims will last 5 years, they announced two new production lines to increase their capacity to almost 4 GWh per year by the end of 2018. expand full story
SK innovation Stories May 17, 2016
Tesla often said that the Model 3’s $35,000 price tag was dependent on the company achieving its battery cost reduction goals at the Gigafactory. Recently, Tesla officials said that the Gigafactory should no longer be seen as a constraint in the Model 3 supply chain and that the company is confident in its capacity to start producing battery cells.
The factory was first presented as having a full annual output capacity of 35 GWh of battery cells and 50 GWh of battery packs – with the difference in cells being imported from other manufacturers, like Tesla’s Gigafactory partner Panasonic, but also other possible cells suppliers.
Now it looks like Tesla is looking to South Korea to diversify its battery cell supply chain for the Model 3. expand full story