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SK Innovation’s wholly-owned battery subsidiary SK On, which supplies electric car batteries to Ford Motor (NYSE:F) Co, Volkswagen (DE:VOWG_p) and Hyundai Motor Co among others, has battery production sites in the United States, Hungary, China and South Korea.
The company had said in September it planned to build a new battery factory in China with an initial investment of 1.2 trillion won ($1.01 billion) https://www.reuters.com/article/ctech-us-sk-innovation-battery-china-idCAKBN2FX2Z4-OCATC.
“SK On has been building (battery) factories in the United States, China and Hungary as a growth strategy after securing battery orders in the global market,” SK On said in a statement.
SK On said last week that it has an order backlog of about 1.6 terawatt hours (TWh) of batteries worth about 220 trillion won, which could power about 23 million electric vehicles.
($1 = 1,183.4000 won)
