SK Innovation To Build Lithium-Ion Battery Plant in Hungary (7.5 GWh)

JAN 6 2018 BY MARK KANE 4

Tesla Model X competitor

Mercedes-Benz EQ Concept

SK Innovation, the South Korean battery manufacturer, will build its first overseas lithium-ion battery plant in Hungary in Europe, following the footsteps of Samsung SDI.

SK Innovation battery cell

The groundbreaking of the 840.2 billion won ($777 million) facility is scheduled for February 2018, while production should start in early 2020.

Annual production capacity is to be 7.5 GWh (nearly twice that of the 3.9 GWh that SK Innovations already has in South Korea).

The plant in Hungary will supply European automakers – Mercedes-Benz is probably the largest customer.

The news comes after SK Innovation withdrew plans of expansion in China.

“SK Innovation has suspended an EV battery pack plant in China with China‚Äôs Beijing Automotive Group and Beijing Electronics, and had also delayed a plan to build an EV battery cell factory in China.”

Source: Reuters

Categories: General

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4 Comments on "SK Innovation To Build Lithium-Ion Battery Plant in Hungary (7.5 GWh)"

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Alaa
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Alaa

7.5GWh per year translates to 100,000 cars per year if each car has a 75 kWh battery. And they say that they will start working by 2020! If Mercedes waits until then! Who knows what will happen by then.

EVShopper
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EVShopper

Or nearly 400,000 smaller batteries that could be used for plugin Hybrids.

EVer
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EVer

Let’s skip the obsolete ICE hybrids and go directly to EVs so we can start breathing clean air. And, that all becomes a function of how fast we can build batteries and how fast we can quit using fossil fuels.

John Doe
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John Doe

China is clearly making sure their own domestic manufacturers get most of the benefits when it comes to EV batteries made in China.
They have stopped most foreign manufacturers from expanding in China.

SK and Samsung are probably building factories in Europe to make it less attractive for the European companies to cooperated and make a joint venture battery factory.

2020 is kind of late. . but I guess Samsungs production and other imports from Korea will keep up with the volume until then.
The growth in EV manufacturing from 2018 – 2022 will be huge.