South Korea’s SK Innovation aims to take nearly a third of the global battery market by 2025.
The company, which also owns an oil refinery and chemicals business, has ambitious plans to expand its battery production from 4.4% market share (1.1 GWh) last year to 10% by 2020 and 30% in eight years’ time – when the rapidly-growing electric car battery market is expected to be demanding a total of 300 GWh (up from 25 GWh in 2016).