SK Innovation to expand with another Hungarian facility

The construction is planned to start later this year. When production starts in 2021 the output of SK Innovation in Europe is set to significantly increase. The company announced back in March last year that it was establishing its very first location in Europe in Komárom, on a 430’000 square metre site. SK Battery Hungary will produce lithium-ion batteries for fully electric, plug-in and hybrid vehicles, on two production lines. That first project is slated to create 410 new jobs, and serial production is expected to start in the first half of 2020. With this new recently announced EUR 756 million second step, the company is taking a significantly bigger step; both in terms of production and job creation. The new plant is said to create about 1000 new positions and production on the third-generation electric vehicle (EV) batteries is planned to more than double as production starts in 2021, according to a report from HIPA the Hungarian Investment Promotion Agency.