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SK Innovation speeding up Deep Chage 2.0 has issued another momentous decision in its drive to establish its future growth drivers since its decision to invest in a new battery plant in Georgia, United States, last January, while taking part in the Consumer Electronics Show (CES) 2019 as the first of its kind.<\/span><\/p>\n <\/p>\n The board meeting on February 27 decided upon the investment of a second battery plant in Europe (Kom\u00e1rom, Hungary) and the split-off of its material business as a bid to enhance its competitiveness in new business areas.<\/span><\/p>\n <\/p>\n This move is interpreted as an effort for the global expansion of its battery business, which the company has focused on in promotion, and the further establishment of the fundamental competitiveness of its material business by creating the basis for its independent management to prepare for its rapid growth in the future.<\/span><\/p>\n <\/p>\n 01\u2502<\/span> SK Innovation decides to invest in a second battery plant in Europe, the largest market for EV<\/strong><\/span><\/p>\n <\/p>\n SK Innovation has decided to allocate an investment of KRW 945.2 billion to establish a second battery plant in Europe. This investment will bring up the total of SK Innovation\u2019s electric vehicle (EV) battery production facilities to five: one in Seosan, Korea; one in China; one in the United States; and two in Europe.<\/span><\/p>\n <\/p>\n The facilities for the second battery plant will be established over a total area of 116,000 m2 within the grounds of the first battery plant\u2014the construction of which began in the city of Kom\u00e1rom, Hungary, last March. SK Innovation has already acquired a plot of land reaching 430,000 m2 in total, about the size of 60 football fields, for the construction of its European battery plant.<\/span><\/p>\n <\/p>\n <\/p>\n Along with the first plant\u2019s 7.5 GWh capacity\u2014the construction of which began early last year with its mass production beginning early next year\u2014construction of the second plant will begin this March and is expected to be completed within the first half of 2020. After pilot runs, a facility check, and product certifications, the plant is expected to enter mass production by early 2022.<\/span><\/p>\n <\/p>\n Europe has led the world in the transition to EVs. The decision by SK Innovation to establish another production site in Europe follows the need to meet this rapidly growing market head-on and to provide a proactive response to the changes in the market. The completion of the second plant will more than double the production capacity of SK Innovation in Europe beyond the capacity of the first plant.<\/span><\/p>\n <\/p>\n \u25b2 Aerial view of the Kom\u00e1rom plant (first)<\/span><\/p>\n <\/p>\n This brings up SK Innovation\u2019s global production capability to that of a global contender by the end of 2021, backed by Seosan Plant (4.7 GWh\/year), Kom\u00e1rom Plant (7.5 GWh\/year), Changzhou Plant (7.5G Wh\/year), and Georgia Plant (9.8 GWh\/year).<\/span><\/p>\n <\/p>\n This will bring the company one step closer to the mid- to long-term goal of the company\u2014a \u201c60 GWh production capacity by 2022 and a global leader in EV batteries<\/strong>,\u201d as announced by CEO & President Kim Jun in CES 2019.<\/span><\/p>\n <\/p>\n 02\u2502<\/span> SK Innovation splits off the fastest growing material business for independent management<\/strong><\/span><\/p>\n <\/p>\n SK Innovation has also decided to split off its material business into an affiliate through physical and simple division, thereby building the competency of the business in line with its role as the center of the company\u2019s future growth. This split-off will be finalized in a general meeting this March and implemented with April 1 as the deadline.<\/span><\/p>\n <\/p>\n SK Innovation\u2019s material business consists of its Lithium-ion Battery Separator (LiBS) business and the foldable, flexible, rollable display film Flexible Cover Window (FCW). Once finalized, the two businesses will be transferred to the new company. SK\u2019s LiBS business is renowned for having one of the best technological prowess in the market as the second-largest producer in the world. FCW\u2019s debut in CES 2019 has raised great interest throughout the industry as well.<\/span><\/p>\n *FCW: A transparent PI film brand and a core component of foldable displays<\/em><\/span><\/p>\n <\/p>\n <\/p>\n \u25b2 FCW, a core component of flexible displays developed by SK Innovation. There are no stress marks or folds on the film, even after multiple folding.<\/span><\/p>\n <\/p>\n This split-off was motivated by the need to establish an independent management system of SK IE Material (tentative name) for the company to respond more effectively to the changes in the management environment, and, thus, build up the group\u2019s expertise in material business even further.<\/span><\/p>\n <\/p>\n LiBS business already has 11 production lines in Korea\u2019s Jeungpyeong Plant. Construction of a new plant in Changzhou, China, began in the second half of last year with additional production facilities scheduled down the road. Mass production of FCW will begin this March in Daejeon\u2019s Institute of Technology Innovation. Completion of the Jeungpyeong Plant in the second half of this year will start the mass production of FCW in the plant as well.<\/span><\/p>\n <\/p>\n Once the split-off is decided in a general meeting this March, SK Innovation expects to acquire more flexibility in its business portfolio, which will allow the company to respond more strategically in changes in the management environment. Furthermore, the increasing synergy between the two companies is expected to raise the corporate value of other SK Innovation affiliates as well.<\/span><\/p>\n <\/p>\n Once the split-off is complete, the new affiliate will bring SK Innovation\u2019s affiliate count to six in total, along with SK Energy, SK Global Chemical, SK Lubricants, SK Incheon Petrochem, and SK Trading International.<\/span><\/p>\n <\/p>\n <\/p>\n <\/p>\n Event<\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n Development of EV battery begins in earnest<\/span><\/p>\n<\/td>\n<\/tr>\n Selected as the supplier of hybrid battery to Mitsubishi Fuso, under Daimler Group<\/span><\/p>\n<\/td>\n<\/tr>\n Selected as the battery supplier in the national project with Hyundai Motor Company, \u201cCommercialization of Small-sized Electric Vehicles\u201d<\/span><\/p>\n<\/td>\n<\/tr>\n Selected as the battery supplier for the first mass production of high-speed EVs by Hyundai\/Kia<\/span><\/p>\n<\/td>\n<\/tr>\n Memorandum of understanding (MOU) signed with the City of Seosan, Chungcheongnam-do Province, for the expansion of the battery production line within Seosan General Industrial Complex<\/span><\/p>\n<\/td>\n<\/tr>\n Selected as the battery supplier to Mercedes-AMG\u2019s high-end electric sports cars<\/span><\/p>\n<\/td>\n<\/tr>\n Start of construction for the battery production line within Seosan General Industrial Complex in Seosan, Chungcheongnam-do Province<\/span><\/p>\n<\/td>\n<\/tr>\n Mitsubishi Fuso, under Daimler Group, launches hybrid truck \u201cCanter Eco Hybrid\u201d<\/span><\/p>\n<\/td>\n<\/tr>\n MOU signed with Kia Motors for the development and distribution of EVs<\/span><\/p>\n<\/td>\n<\/tr>\n Mass production starts in Seosan battery plant <\/span><\/p>\n<\/td>\n<\/tr>\n Beijing BESK Technology (a joint venture with Beijing Electronics Holding and BAIC Motor Corp.)<\/span><\/p>\n<\/td>\n<\/tr>\n Kia Motors launches \u201cSoul EV\u201d<\/span><\/p>\n<\/td>\n<\/tr>\n BAIC Motor Corp. EV \u201cES210 (Shenbao)\u201d selected as the official vehicle in the 2014 Asia-Pacific Economic Cooperation (APEC) summit<\/span><\/p>\n<\/td>\n<\/tr>\n Expansions of Seosan plant complete (900 MWh capacity)<\/span><\/p>\n<\/td>\n<\/tr>\n Selected as the battery supplier for the Mercedes-Benz EV project<\/span><\/p>\n<\/td>\n<\/tr>\n Expansion of the 3rd production line in Seosan plant complete (total capacity at 1.1 GWh)<\/span><\/p>\n<\/td>\n<\/tr>\n Expansions of the 4th, 5th, and 6th production lines in Seosan plant complete (total capacity at 3.9 GWh)<\/span><\/p>\n<\/td>\n<\/tr>\n Construction started for Kom\u00e1rom Plant, Hungary (7.5 GWh)<\/span><\/p>\n<\/td>\n<\/tr>\n Construction started for Changzhou Plant through a joint venture with Beijing Electronics Holding and BAIC Motor Corp. (7.5 GWh)<\/span><\/p>\n<\/td>\n<\/tr>\n Expansions of the 7th production line in Seosan plant complete (total capacity at 4.7 GWh)<\/span><\/p>\n<\/td>\n<\/tr>\n Construction started for Georgia Plant, United States (9.8 GWh) <\/span><\/p>\n<\/td>\n<\/tr>\n Investments announced for the 2nd battery plant in Kom\u00e1rom, Hungary<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" SK Innovation speeding up Deep Chage 2.0 has issued another momentous decision in its drive to establish its future growth drivers since its decision to invest in a new battery plant in Georgia, United States, last January, while taking part in the Consumer Electronics Show (CES) 2019 as the first of its kind. …<\/p>\n","protected":false},"author":2,"featured_media":573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,3,56,644],"tags":[35,68,114,52,110,15],"jetpack_featured_media_url":"https:\/\/skinnonews.com\/global\/wp-content\/uploads\/sites\/2\/2020\/02\/190227_\ubc30\ud130\ub9ac\ubc0f\uc18c\uc7ac\uc0ac\uc5c5_\uba54\uc778_\uc378\ub124\uc77c.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/peWInv-96","_links":{"self":[{"href":"https:\/\/skinnonews.com\/global\/wp-json\/wp\/v2\/posts\/564"}],"collection":[{"href":"https:\/\/skinnonews.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skinnonews.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skinnonews.com\/global\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/skinnonews.com\/global\/wp-json\/wp\/v2\/comments?post=564"}],"version-history":[{"count":16,"href":"https:\/\/skinnonews.com\/global\/wp-json\/wp\/v2\/posts\/564\/revisions"}],"predecessor-version":[{"id":5500,"href":"https:\/\/skinnonews.com\/global\/wp-json\/wp\/v2\/posts\/564\/revisions\/5500"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/skinnonews.com\/global\/wp-json\/wp\/v2\/media\/573"}],"wp:attachment":[{"href":"https:\/\/skinnonews.com\/global\/wp-json\/wp\/v2\/media?parent=564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skinnonews.com\/global\/wp-json\/wp\/v2\/categories?post=564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skinnonews.com\/global\/wp-json\/wp\/v2\/tags?post=564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/skinnonews.com\/global\/wp-content\/uploads\/sites\/2\/2020\/02\/190227_\ubc30\ud130\ub9ac\ubc0f\uc18c\uc7ac\uc0ac\uc5c5_1_\ud5dd\uac00\ub9ac\ucf54\ub9c8\ub86c_\uc9c0\ub3c4.jpg\")
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\n Year<\/span><\/strong><\/span><\/td>\n \n \n Early 2005<\/span><\/td>\n \n \n October 2009<\/span><\/td>\n \n \n March 2010<\/span><\/td>\n \n \n July 2010<\/span><\/td>\n \n \n July 2010<\/span><\/td>\n \n \n January 2011<\/span><\/td>\n \n \n May 2011<\/span><\/td>\n \n \n May 2012<\/span><\/td>\n \n \n July 2012<\/span><\/td>\n \n \n September 2012<\/span><\/td>\n \n \n December 2013<\/span><\/td>\n \n \n April 2014<\/span><\/td>\n \n \n October 2014<\/span><\/td>\n \n \n July 2015<\/span><\/td>\n \n \n February 2016<\/span><\/td>\n \n \n September 2016<\/span><\/td>\n \n \n 1Q 2018<\/span><\/td>\n \n \n February 2018<\/span><\/td>\n \n \n August 2018<\/span><\/td>\n \n \n August 2018<\/span><\/td>\n \n \n February 2019 <\/span><\/td>\n \n \n February 2019<\/span><\/td>\n \n ![\"\"](\"https:\/\/skinnonews.com\/global\/wp-content\/uploads\/sites\/2\/2020\/02\/190227_\ubc30\ud130\ub9ac\ubc0f\uc18c\uc7ac\uc0ac\uc5c5_LiBS\ud3f4\ub780\ub4dc\uacf5\uc7a5_\uc9c0\ub3c4.jpg\")
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