SK Innovation is now one of the quickest expanding EV battery manufacturers with investments on three continents.
According to South Korean media, SK Innovation has secured from global banks a "green loan" of 800 billion won ($657 million) for upcoming battery-related investments.
The plan is to increase manufacturing capacity of both - lithium-ion cells and battery materials, especially the battery separators (LiBS).
"A green loan is a financing of investment for the development of "green growth," which aims to promote economic growth while focusing on reducing the use of natural resources."
K Innovation news
SK Innovation is currently busy with several projects simultaneously, which would explain a huge appetite for financing:
- new battery plant in Hungary (expected online in H1 2020)
- new battery plant in Changzhou, China (expected online in H1 2020)
- new battery plant in U.S. (expected online in 2022)
- second battery plant in Komarom, Hungary (expected online in 2022)
- new LiBS plant in China (expected online in H2 2020)
- new LiBS plant in Poland (expected online in Q3 2021)
SK Innovation production capacity roadmap:
- Today: around 5 GWh annually
- by the end of 2019: 20 GWh annually
- 2020: 40 GWh annually
- 2022: 60 GWh annually
- 2025: 100 GWh annually and an order backlog of 700 GWh
Source: koreatimes.co.kr
