The demand for lithium is going to keep increasing.
SK Innovation To Build Third EV Battery Plant In Hungary
SK Innovation intends to build a third lithium-ion battery cell plant in Hungary. The company already operates a 7.5 GWh factory in Komarom and is building the second 10 GWh factory at the site.
The new, third factory will be located in Ivancsa and produce up to 30 GWh of cells annually. The construction should start in the third quarter of this year, while the start of production is scheduled for early 2024.
SK Innovation supplies batteries to multiple global manufacturers, including Volkswagen, Ford and Hyundai. Hungary is in a great position to become a battery hub because multiple car factories are in a relatively close proximity.
Currently, SK Innovation's total battery manufacturing capacity (globally) stands at about 40 GWh annually, but it's expected to increase several times over just a few years.
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