SK Innovation reveals its plans to develop a new battery manufacturing plant
Established in South Korea, SK Innovation are now investing US$1.6bn in a new battery manufacturing plant in Georgia. A leading developer of lithium-ion batteries for electric vehicles, the new plant will create more than 2,000 jobs.
The company has sought to place significant investment in order to remain competitive within a growing global EV battery market. Customers include Mercedes-Benz and Hyundai-Kia Motors, where this investment will open up further opportunities for SK Innovation to bring its world-class products to additional automakers in the United States.
“We are excited to bolster our presence in the United States by making this investment in Georgia,” said Jun Kim, CEO of SK Innovation. “SK Innovation is a worldwide leader in the energy industry and this latest investment will allow us to work with the growing automotive industry in the Southeastern United States, ensuring future partnerships for years to come.”#
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The new plant will be located in Jackson County, Georgia. Construction will occur in two phases, beginning in early 2019. The first phase will invest approximately $1bn and employ more than 1,000 advanced manufacturing employees, making it the largest scale electric vehicle battery plant in the United States. SK Innovation leadership worked closely with federal, state and local officials to finalise the investment.
“SK Group’s investment in the state of Georgia is undeniable proof that President Trump’s economic policies are working for the American economy and American worker,” said US. Secretary of Commerce Wilbur Ross. “I am delighted that a world-class technology company such as SK sees the merits of manufacturing in the United States. As similar companies across the world are discovering, there is no better place to do business than right here in America.”
For decades, SK Group has been building relationships within the United States. It already has significant investments in the US and currently employs nearly 2,000 workers across 10 states.