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Title SK Innovation Decides on the Additional Investment for Batteries and I/E Materials Date 2017-11-30
Contents * Focused investment in next-gen industries of I/E materials and batteries will a strong basis for further growth.
* 12th and 13th LiBS production facilities added to Jeungpyeong Plant, with an annual production capacity of 0.5 billion m2
* The addition of the 7th battery production facility in Seosan Plant (with increases in local and international orders) raises local productions to 4.7 GWh per year

SK Innovation has revealed its plan to invest nearly KRW 200 billion for new production facilities for LiBS (Lithium-ion Battery Separator) in Jeungpyeong Plant and battery cells in Seosan Plant.

    LiBS Production Facility Nos. 12 and 13 added to the Jeungpyeong Plant

First, SK Innovation will introduce LiBS production facilities nos. 12 and 13 to its Jeungpyeong Plant. The completion of the facilities, with an investment of KRW 150 billion, will allow SK Innovation to provide nearly 0.5 billion m2 annual production capability in LiBS.

SK Innovation’s reasons for this expansion was that “with the size of LiBS orders skyrocketing from the increase in the number of companies specializing on EV batteries globally, we decided to build additional facilities as a preparatory step toward our bid to being the largest supplier of LiBS in the market.”

SK Innovation is the second largest supplier of LiBS in the world, with many of the major players in the global battery and IT market as its clientele. The investment will allow the expansion to start from next month, with the goal to complete the facility in the latter half of 2019. After pilot runs and stabilization processes, the facility will immediately be included in the LiBS production cycle.

■   Expansion of the Seosan Battery Plant

The other component in the SK Innovation’s expansion plan is the addition of the production line no. 7 in Seosan Battery Plant 2, driven by the increase in demand, bringing the total local production capability to 4.7 GWh. This represents a significant increase from the previous local production capacity of 3.9 GWh.

The construction work for the new line 7 will also begin next month, adding a new production line in the existing structure of the Seosan Plant 2. It is slated to be fully operational by the latter half of next year.

SK Innovation commented: “the trust in our technology and business capabilities from our automobile clients around the world has brought us production orders not only from new clients but also from our existing partners as well” and “we decided to expand our local facilities to keep up with the increasing demand of the market.”

Batteries produced in Seosan Plant are the “Third Generation EV Batteries,” which allow EVs to cover 500 km with a single charge or the PHEV to offer 60 km of additional mileage. They represent the entry of SK Innovation to the Third Generation Battery market, earning positive recognition from the global market.

This year’s board meeting also includes plans to “invest KRW 840.2 billion KRW to build and activate a battery plant in Hungary.” Built on a 430,000 m2 of land, the factory is capable of providing an output of 7.5 GWh per year. Construction of the factory is expected to start in February 2019, and mass production is expected to start by early 2020 for the European market.