South Koreaʼs SK Innovation has confirmed earlier news that it will build a KRW 840.2 billion (approx. HUF 204 bln) plant making lithium batteries for electric vehicles in Komárom, northwest Hungary, Reuters reported on Thursday. Documents posted at the city hall in Komárom on Wednesday revealed that SK Innovation would build a lithium battery plant to power electric vehicles, with construction set to start next February, according to Hungarian news wire MTI.
SK Innovation told Reuters that test operation is due to begin in summer 2019, and commercial production from January 2020.
The first phase of the investment is expected to be implemented on an area of 66,000 hectares in the Komárom industrial park. The plant is expected to operate 24 hours a day all year.
South Korean online business news service The Investor earlier said SK Innovation plans to better meet demand in Europe via a USD 779 mln investment in Komárom (an amount that corresponds to that cited in the Reuters report). The report said the plant will have annual capacity to produce 250,000 EV batteries.
SK Innovation already has a battery plant using the same technology in Seosan, South Korea, noted MTI.
MTI added that in Hungary, Samsung SDIʼs HUF 100 bln battery plant began operating in May 2017 in Göd, north of the capital.
Source: bbj.com
