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06 12 2018 02

South Korea-based SK Innovation, a developer of lithium-ion batteries for electric vehicles, will invest $1.67 billion to build a new electric vehicle (EV) battery manufacturing plant in Georgia.

SK innovation is fitted with the entire value chain for mid/large-sized battery production from electrodes and separators to battery cells and packs. SK Innovation has applied high energy density ternary materials to lithium-ion batteries for mass production. Based on these technological capabilities, SK innovation has signed supply contracts with major automakers including Hyundai Motor Group, BAIC Group and Daimler AG.

SK Innovation, which is part of SK Group, says that it is making the investment in Georgia to better compete in the growing global EV battery market. The company says that the new investment will provide opportunities for it to bring its products to additional automakers in the United States.

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