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© Business Finland General | March 21, 2019

SK Innovation breaks ground on EV battery facility in Georgia

The new USD 1.68 billion lithium-ion battery facility, the South Korean company’s first in the U.S., is scheduled to generate 2,000 jobs by 2025 and boast a production capacity of 9.8GWh beginning in 2022.

Governor Brian Kemp of Georgia, U.S. Secretary of Commerce Wilbur Ross, and other officials joined the SK Innovation team for the groundbreaking ceremony held at the 283-acre site, located within the City of Commerce’s industrial complex. In a press release, SK Group Executive Vice Chairman Jae-won Chey said, “Today’s groundbreaking marks an important step in SK Innovation’s blossoming partnership with the U.S., the state of Georgia, and global automakers throughout the region whose collective confidence in our technology helped spur this investment. I have no doubt that today’s ceremony will go down in history as the beginning of a brand-new chapter in global car development.” “SK Innovation’s plant represents one of the largest single investments in a job creating initiative in Georgia’s history,” said Governor Kemp. “We are humbled by SK’s investment in our students, workers and our state’s future and look forward to years of collaboration to ensure our best days are ahead.” The new Georgia facility will contribute to a global growth plan that will expand SK’s EV battery production base to span four countries, including South Korea, Hungary, China, and the United States. Currently, the company’s production capacity is 4.7GWh in EV batteries annually, all in South Korea. By 2022, upon completion of plants in Hungary, China and the U.S., SK’s annual global production capacity for EV batteries will jump to 60GWh, more than six times its current capacity.
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November 12 2019 7:31 am V14.7.10-1