"SKI to expand battery production capacity 5 fold by 2025"
"SK Innovation said Wednesday it will expand its electric vehicle (EV) battery production capacity to 100 gigawatt-hours by 2025, adding it intends to make further investments in the business. "We launched the commercial operation of battery plants in Hungary and Changzhou this year, and this will raise our annual battery production capacity to 20 gigawatt-hours," the company said during a conference call about its second-quarter earnings. "In 2023, the capacity will grow to 71 gigawatt-hours upon the completion of the second Hungarian plant and two plants in the U.S. And we plan to increase the number to 100 gigawatt-hours by 2025, and will update investors when we fix our investment plan." The refining, chemical and battery company projected an optimistic plan to enhance its battery business, but it did not made an upward revision to its battery sales target for this year, maintaining a 1.8 trillion won ($1.5 billion) target."
