SK Innovation held a completion ceremony for BEST, a battery cell plant built in Changzhou City, Jiangsu Province, China, in a joint venture with Beijing Automotive Industry Corp.
The BEST plant has been constructed on a site of about 50,000 pyeong (168,000 square meters) with the scale of 7.5 GWh, which can produce about 150,000 electric vehicles per year.
With this, SK Innovation has production capacity of about 12.2 GWh that can supply about 250,000 electric vehicles per year, including 4.7 GWh at its battery plant in Seosan.
When the plant in Komarom, Hungary, is completed soon, SK Innovation's battery production capacity will expand to 19.7 GWh. The move comes a step closer to SK Innovation's goal of becoming a global top 3 electric vehicle battery company with 100 GWh production capabilities in 2025.
Based on SK Innovation's experience in mass production, the BEST was built as a state-of-the-art facility based on the latest battery production technology and smart factory applied to Seosan's second plant.
The plant will produce the world's first NCM battery that reflects SK Innovation's technological prowess in commercializing NCM622, and NCM811 batteries. BEST-produced batteries are expected to be supplied in earnest from early 2020.
SK Innovation invested a total of 1 billion yuan (168 billion won) in 2013 and established “BESK,” which is a joint electric vehicle battery business (JV) with Beijing Automotive. BEST, which was completed this time, is a 100 percent subsidiary of BESK and is 49 percent owned by SK Innovation and 51 percent by Beijing Automotive and Beijing Electronics.
"We will not only increase SK Innovation's corporate value but also create variety of cooperation for joint development with Chinese electric vehicle and electric vehicle battery-related industries in addition to secure global competitive edge in battery business,” said Kim Joon, CEO of SK Innovation.