South Korea’s SK Innovation Co. plans to construct a $1.1 billion battery plant in Yancheng, China.
Business Korea says the facility is expected to primarily supply a new Kia Motors Corp. joint venture factory in Yancheng. That plant, which is co-owned by Kia, Dongfeng Motor and Yueda Group, will focus on electrified vehicles.
Last year SKI broke ground on its first battery plant in China. Located in Changzhou, the $744 million facility has an annual capacity of 7.5 GWh. SKI also is adding battery sites in the U.S. and Hungary.
Formed in 2005, SK is Korea’s largest oil refiner. The company launched its battery business in 2008.
You might be surprised to learn that there is presently a Ford Transit 350HD that is chock full of lithium-ion batteries that you can get right now that doesn’t come out of Dearborn but Loveland, Colorado.
With vehicles like the Toyota Mirai and the Honda Clarity Fuel Cell, you might think that hydrogen-fueled vehicles are a brand-new phenomenon.
The Tesla Model 3 is certainly one of the most controversial cars to be launched in some time, with production models (a comparative handful, admittedly) presented on a stage with a throng of people treating it like it was an event with Beyoncé, Taylor Swift and Ed Sheeran, all at the same time.