SK Innovation to build its second plant in Hungary

SK Innovation to build its second plant in Hungary

Groundbreaking ceremony of the first plant in Komárom in March 2017

Although the first EUR 313 million plant of SK Battery Hungary in Komárom is still under construction, the South Korean company announced the construction of a EUR 756 million second unit in Komárom. The construction is planned to start this year. When production starts in 2021 the output of SK Innovation in Europe is set to significantly increase, along with the role of Hungary in shaping the future of electric mobility.

SK Innovation, one of the largest Korean companies has a history of more than half a century. The company is an important player in petrol production and processing, but also in chemical and electronic field. SK Innovation is producing lithium-ion batteries since 2006 to, among others, partners like Hyundai-KIA, Volkswagen and Daimler.

The Battery division of the company is establishing its very first location in Europe in Komárom, on 430,000 square-metres. SK Battery Hungary will produce state-of-the-art lithium-ion batteries for fully electric, plug-in and hybrid vehicles, on two production lines. The project worth EUR 313 million creates 410 new jobs, and serial production is expected to start in the first half of 2020.

The recently announced EUR 756 million second step represents a significantly higher volume and job creation than the first one, creation about 1000 new positions in the new unit The production volume of the third-generation electric vehicle (EV) batteries with a range of 500 kilometres is planned to more than double as production starts in 2021.