SK Plans To Double Investment At U.S. Battery Factory
Construction to start later this year
As we learned in December, South Korean SK Innovation intends to build a lithium-ion battery plant in Commerce, Georgia, investing $1.67 billion and employing more than 2,000 people (first phase to be more like $1 billion and more than 1,000 jobs). The article states that by 2022, the output should reach 9.8 GWh annually.
However, according to the latest news – the plant could be way bigger than initially announced. Automotive News reports the investment could double:
“South Korean lithium ion battery producer SK Innovation Co. is doubling down on its planned $1.67 billion electric vehicle battery plant in north Georgia.
The company is considering plowing up to $5 billion more into the project, SK Innovation CEO Jun Kim said Friday.”
$5 billion would be three times the amount quoted a month ago, so there must be strong demand to hint at such an increase within such a short time frame.
SK Innovation customers:
- Hyundai-Kia Motors
Car plants near planned battery plant:
- Hyundai (nearby in Alabama)
- Mercedes (nearby in Alabama)
- Honda (nearby in Alabama)
- Mazda and Toyota (have broken ground on a jointly owned factory in Alabama)
- Kia (Georgia)
- Volkswagen (Chattanooga, Tennessee).
Source: Automotive News
Categories: Battery Tech