SK Innovation (SKI) said that SK IE Technology, a manufacturer of lithium-ion battery separators, would make additional investments in Poland to build a new LiBs production line with an annual capacity of 340 million square meters for completion in the first quarter of 2023. Already, a production line with an equal annual capacity is under construction in Poland for mass-production in the third quarter of 2021
Financial terms were not given, but SKI has earmarked some 430 billion won for the construction of its first LiBS plant in Poland. SK IE Technology has a LiBS plant in South Korea. If all new plants in Poland and China are in operation, the company's total production capacity would reach 1.87 billion square meters by the end of 2023.
"We will strengthen our business competitiveness based on unrivaled technological competitiveness while contributing to the vitalization of an ecosystem in the rapidly growing battery by building a global production base and expanding production capacity in a timely manner," SK IE Technology CEO Rho Jae-sok said in a statement.
SKI, a subsidiary of South Korea's third-largest conglomerate SK Group, has invested heavily in its battery business. German auto giant Volkswagen has selected SKI as the fourth strategic supplier of battery cells to cover its demand in North America.
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