Business
Hungary: SK Innovation Plans Construction of Second Battery Manufacturing Facility
SK Innovation, the South Korean manufacturer, has announced plans for the construction of a second battery cell factory in Hungary. The groundbreaking ceremony is scheduled for March this year in Komárom, where SK Innovation initiated the construction of its first Hungarian battery factory a year ago.
Expected to be completed in 2021, the new factory aims to commence large-scale deliveries of cells to European car manufacturers starting from 2022. Although specific details about the planned capacity of the new plant have not been disclosed, the company revealed investments totaling $859 million (€753 million).
This move underscores SK Innovation's commitment to strengthening its presence in the European market. The new facility will be situated on a 117,130 square meter section of the 430,000 square meter site in Komárom. The ongoing construction of the existing plant there is projected to achieve an annual capacity of 7.5 GWh by the final expansion stage in 2022, producing third-generation cells.
Just a few months ago, SK Innovation also announced the construction of a battery cell factory in the USA. While initial discussions hinted at an investment of approximately $1 billion for producing battery cells with a total capacity of 9.8 GWh annually from 2022, rumors have surfaced suggesting potential investments of up to $5 billion, including corresponding production capacity expansions. Construction of the US factory in Commerce, located about an hour northeast of Atlanta, is slated to commence this year.
In summary, SK Innovation's global production capacity is anticipated to reach 60 GWh by 2022, distributed across locations in Seosan, Korea (4.7 GWh per year), Komárom, Hungary (7.5 GWh + X), Changzhou, China (7.5 GWh per year), and Commerce, USA (at least 9.8 GWh per year). Reports also indicate SK Innovation's intention to invest around $10 billion in battery cell production by 2025, aiming to achieve a production capacity of approximately 100 GWh per year, though these figures are yet to be officially confirmed.
