South Korea’s Sk On to invest 1.5 trillion won in expanding domestic production capacity
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Update time : 2023-08-22 15:25:34
Sk On Co., Ltd., a rechargeable battery manufacturer in South Korea, planned to invest 1.5 trillion won in expanding its domestic production capacity by 2028.
Under a memorandum of understanding (MoU) inked with the Seosan city government and the South Chungcheong provincial government, the third battery cell plant will be built on land covering an area of 44,152 square meters in the Seosan Auto Valley complex.
The construction was scheduled to be completed in 2025. The annual production capacity was expected to reach 14 GWh by 2028. After the full operation, SK On’s domestic production capacity will quadruple to 20 GWh, which can provide power to 280,000 electric vehicles per year.
