Ford and SK Innovation looking at Eastern Europe for new facility
SK Innovation and Ford are rumoured to set up a joint venture in Europe with possible locations in Hungary, Romania and Poland.
The companies already operate a battery production facility in the USA and are expected to invest around KRW 12 trillion (EUR 8.7 billion) for their new facility, writes Business Korea. Hungary is said to have gained an advantage over the other two candidates, purely on the grounds that SK Innovation already has production there. A new facilities is currently build. (Evertiq reported.) "SKI and Ford are set to announce a plan to establish a joint venture in Europe sometime in October, at the earliest possible date," quotes The Korean Times an unnamed source.