SK Innovation to invest US$ 4.3 bil. to build battery plants in U.S.
Updated: 2021-09-28 13:41:07 KST
The South Korean company SK Innovation, which makes batteries for electric cars, is expanding its global production capacity.
The company said Tuesday that it will invest another 4.3 billion U.S. dollars to build more plants in the U.S. with Ford.
SK Innovation said the size of the investment reflects the growing number of batteries needed in its joint venture with the American auto giant.
In May, the companies signed an MOU for a joint venture dubbed "BlueOvalSK" to manufacture battery cells in a bid to lead the U.S. electric vehicle market.