SK Innovation makes further investments in Hungarian battery production facilities
By Jim Gibbins - 1st March 2019
South Korea / Hungary – Seoul-based EV battery developer, SK Innovation plans to invest around USD859m in battery technology and production in Hungary. This is additional to the existing investment in a 7.5GWh battery facility currently under construction in Komaron and comes just three mönths after the company revealed significant investment to build a production facility in the USA.
The new plant is to be built on an 117,130 square-meter site, which is part of the 430,000 square-meter site in Komarom. The company said the move will reinforce its foothold in the European EV market which is growing fast thanks to stricter environmental regulations. It plans to break ground at the plant’s site in March this year and finish construction in the first half of 2020. Mass production and delivery is anticipated in early 2022 once facility stabilisation, commissioning and product certification is completed.
