SK Innovation will expand its flagship battery to a new service platform. Its strategy is to expand its dominance into energy solution and e-mobility businesses by participating in all areas such as charging, recycling and additional services beyond making batteries.
SK Innovation President Kim Joon held a press conference at the Four Seasons Hotel in downtown Seoul on May 27 and said, "We have decided to accelerate the African grassland strategy to introduce a strategy where the entire battery and material ecosystem coexist."
To materialize this, SK Innovation has decided to increase its asset weight for new growth businesses such as batteries, materials and chemicals to 60 percent in 2025.
In the battery business, the company will expand orders from 430 GWh to 700 GWh by 2025, and increase the production volume to 100 GWh, which is about 5 GWh per year.
Besides China and Poland, the LiBS project will further expand global production facilities to secure more than 2.5 billion square meters of annual production capacity by 2025. If this happens, it will become the world's top player with a 30 percent market share.
It is also going to establish '5R Platform (BaS)' that can encompass front-end value chain through vertical battery sequencing. Its strategy is to create a new business model in e-mobility field by working with various business partners such as electric vehicle manufacturers.