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© HIPA Electronics Production | March 12, 2018

SK Innovation to set up battery factory in Hungary

The South Korean group is setting up its first European battery manufacturing operation, to supply European automotive partners with the third generation lithium-ion products from Hungary.
On March 8 the SK broke ground on the to be factory in the Hungarian city of Komárom, which sits about 110 kilometres northwest of Budapest. SK Innovation has secured a site of 430’000 square metres and the has stated construction of the facility which will create 410 new jobs in the region, reports HIPA.

With the new plant the group is forming SK Battery Hungary, which is expected to start mass-producing and supplying the batteries from early 2020. The new set up will have a capacity of 7.5 GWh per year, which would enable the company to supply batteries up to 250’000 electric or hybrid vehicles.

SK Innovation plans to invest a total of KRW 840.2 billion (EUR 641.46 million) until 2022 in this venture, the company states in a press release.
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November 15 2018 5:25 pm V11.9.0-1