Copyright FOURIN, Inc. 2023
SK Innovation’s Recent Business Activities in China
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Major South Korean in-vehicle battery maker SK Innovation is setting up new battery cell factories in China. It completed construction of BEST, its first overseas battery cell plant for BEVs, through its local joint venture BESK in China’s Changzhou City in December 2019. BEST has an annual output of 7.5 GWh. SK Innovation’s second plant in China’s Yancheng City commenced operations in November 2020 with an annual production capacity of 10 GWh which is planned to be raised to 20 GWh in 2021. In addition, SK Innovation acquired a 49% stake in Chinese EVE Energy’s 10 GWh battery plant in Huizhou City in December 2020. As the latest development, SK Innovation’s battery business unit was officially spun off under the name SK On in October 2021.