A groundbreaking ceremony was held for SK Innovation's battery production plant in the U.S. "We are planning to enter the global top 3 for electric vehicle batteries by 2025," said CEO Kim Joon of SK Innovation.
SK Innovation made an announcement on March 19 (local time) that it held a groundbreaking ceremony for its electric car battery production plant in Jackson County, Georgia.
The southeastern U.S. where the Georgia plant is located is rapidly emerging as a manufacturing Mecca in the U.S. Global companies such as Lockheed Martin and Tata Group of India and others have been established. In addition, global automakers such as Volkswagen, BMW, Daimler, Volvo, and Hyundai-Kia Motors are located in the southeast and are considered the best sites for electric car battery plants.
It is planning to start mass-production in early 2022. When the plant is completed, SK Innovation will secure a production base in the U.S., which is more than twice the output of its Seosan plant (4.7GWh per year). It also plans to invest about 1.9 trillion won (1.67 billion dollars) in accumulated investment by 2025, expanding its facilities.
CEO Kim announced that SK Innovation will become one of the global electric vehicle battery top 3 manufacturers by 2025. "The battery business of electric vehicles is the second semiconductor and Korean companies are the strongest," Kim said.
"The groundbreaking ceremony will serve as an opportunity to strengthen Korea-U.S. economic ties through the cooperation of the electric vehicle industry," said Chey Jae-won, executive vice chairman of SK Group.