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SK Innovation to Hike Battery Capacity Tenfold
South Korean battery maker SK Innovation Co., which supplies batteries for electrified vehicles to BAIC, Daimler and Volkswagen, says it will boost its output capacity more than tenfold by 2022.
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South Korean battery maker SK Innovation Co., which supplies batteries for electrified vehicles to BAIC, Daimler and Volkswagen, says it will boost its output capacity more than tenfold by 2022.
SKI already supplies batteries for electrified vehicles made by BAC, Daimler and Hyundai. Earlier this month the company announced it will open the first phase of a $1.7 billion battery plant in Georgia next year.
The supplier began construction in March for a battery-making factory in Hungary that will launch output in 2020 and eventually reach annual output capacity of 7.5 gigawatt-hours. Volkswagen AG also reportedly is in talks with SKI about a multi-billion-euro joint venture to make EV batteries.
The Seoul-based supplier tells reporters it expects its battery business will break even in 2020.
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