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SK Innovations to invest $1B in new China plant to meet forecast demand of lithium-ion batteries

Fri, 09/17/2021 - 15:17 -- paul Crompton

South Korea's SK Innovation is set to invest 1.2 trillion won ($1 billion) in a new battery factory in China, as it looks to ramp up lithium-ion battery production to 200GWh in the next four years.

Detailed plans for the new factory were not revealed, but in July the firm said it was to up production to 200GWh from a previously announced goal of 125GWh. 

The company’s production capacity is 40GWh.

The South Korean battery maker supplies electric vehicle (EV) batteries to Ford Motor, Volkswagen and Hyundai Motor among others, and has battery production sites in the US, Hungary, China and South Korea.

In July, SK announced it would spinoff its battery division to allow it to concentrate on meeting demand for batteries as global EV sales are set to increase from last year’s 2.5 million, according to IHS Markit.

SK Innovation CEO Kim Jun said in July: “We haven't decided how to split the battery business ... it takes quite a lot of resources to further grow our growing battery business, so we are considering the spinoff as one of the ways to secure resources.”

The South Korean battery maker told news outlet Reuters that it had more than 130 trillion won ($115 billion) worth of battery orders, which is more than 1TWh worth of batteries, enough to power around 14 million electric vehicles.

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Lithium-ion battery fires spark global recall of 68,000 EVs amid over charging concerns

Tue, 11/17/2020 - 09:38 -- paul Crompton

The root cause of fires that pushed General Motors to recall 68,667 Chevrolet Bolt electric vehicles is unknown but “could be” related to overcharging the high voltage lithium-ion batteries produced in South Korea by LG Chem. 

Concerns the batteries could catch fire when fully charged has led the US federal vehicle safety agency National Highway Traffic Safety Administration (NHTSA) to recommend charging up to 90% capacity until a software update is completed.

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Hyundai signs MoU to use second-life EV lithium-ion batteries in ESSs

Fri, 06/05/2020 - 12:35 -- paul Crompton

South Korea's vehicle OEM Hyundai Motor Group has signed a memorandum of understanding (MoU) with PV manufacturer Hanwha Q Cells to recycle old EV batteries into second-life energy storage applications.

The partnership will develop energy storage systems (ESS) using old EV batteries for the European and North American markets.

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Samsung in talks with Hyundai to supply its lithium-ion pouch cells for EV applications

Thu, 05/14/2020 - 11:17 -- paul Crompton

Representatives from battery giant Samsung and vehicle OEM Hyundai Motor Group have met in Korea to discuss use of a lithium-ion solid-state cell in next-generation electric vehicles.

The meeting between Samsung Electronics vice chairman Jay Y. Lee and Hyundai Motor Group's executive vice chairman Chung Eui-sun was made on 12 May at the battery plant of Samsung Display in Cheonan, near Seoul, reported the country’s media outlet Aju Business Daily.

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Lithium-ion battery maker SK Innovation reveals plans to build second EV battery plant in US

Thu, 04/30/2020 - 15:55 -- paul Crompton

South Korea lithium-ion battery maker SK Innovation announced last week its going to build a second electric vehicle (EV) battery plant in the United States.

Construction of the 11.7GWh plant is due to begin in July in Georgia with production aimed for 2023, the company said in a statement on 28 April. 

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Tesla side-steps long-term lithium-ion cell supplier to partner with LG Chem and CATL for its Gigafactory 3

Fri, 01/31/2020 - 10:32 -- paul Crompton

Vehicle and energy storage firm Tesla has entered into a partnership with South Korea’s LG Chem and China’s CATL as it looks to secure a lithium-ion battery supply for its electric cars at its Gigafactory 3 plant in Shanghai.

Rumours that Tesla would move from its exclusive cell supplier Panasonic to meet demand at the China Gigafactory 3 first surfaced last August.

*UPDATE* CATL confirmed in a stock exchange filing on Monday, 3 February, it had signed a two-year battery supply agreement with Tesla, with the US firm determining the battery purchase volume. The deal starts this July and closes June 2022.

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SK Innovation to target EV market with cells from its first ‘overseas’ lithium-ion gigafactory

Thu, 12/12/2019 - 13:43 -- paul Crompton

South Korea’s battery maker SK Innovation will begin mass production of lithium-ion battery cells for electric vehicles at its new plant dubbed BEST early next year.

Operations at the 168,000 square meter plant in Changzhou, Jiangsu Province, China, will begin after test operation and product approvals, following completion of the battery line.

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Hyundai signs MoU to use second-life lithium-ion batteries in ESSs

Wed, 09/11/2019 - 15:01 -- paul Crompton
Hyundai signs MoU to use second-life lithium-ion batteries in ESSs

South Korea’s vehicle OEM Hyundai Motor Group has committed to a joint project with Korea-based energy solution firm OCI to reuse second-life lithium-ion batteries from EV’s in energy storage systems (ESS). 

The systems will be used in solar power generation applications following the signing of a memorandum of understanding on 9 September.

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Korea invests to protect EV battery makers in trade spat with Japan

Thu, 08/08/2019 - 10:27 -- John Shepherd
Korea invests to protect EV battery makers in trade spat with Japan

South Korea has confirmed plans to invest about 7.8 trillion won (US$6.5 billion) in supporting the country’s battery sector and other key domestic industries in a trade row with Japan.

South Korea said it would boost “self-sufficiency” for 100 key components, materials and equipment items such as semiconductors used in battery packs for electric vehicles— aiming to ease the country’s dependency on other nations.

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South Korea to open dedicated lithium-ion EV battery recycling centre

Thu, 08/01/2019 - 12:15 -- paul Crompton
South Korea to open dedicated lithium-ion EV battery recycling centre

South Korea has broken ground on the country’s first recycling centre dedicated to breaking and recycling electric vehicle battery packs.

South Korean company Earthtech will invest 24 billion won (US$20 million) in the recycling centre in Yeonggwang Country, South Jeolla Province, according to the country’s news outlet The Korea Bizwire.

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