SK Innovation will expand its battery separator production, the company said on Thursday.
SK IE Technology, its subsidiary that makes separators, will expand its annual production capacity to 1.87 billion meter-square by 2023 from the current 530 million meter-square, the company said.
Additional factories will be built in Poland to expand SK IE Technology’s capacity. The South Korean battery maker is already building a separate factory with annual production capacity of 340 million meter-square that will go live in the third quarter of 2021.
SK said the expansion was to meet the rising demand from the global EV market.
SK IE Technology has overseas production facilities in China and Poland. It is aiming to secure 30% market share wet separators by 2025.
It currently operates a 530 million meter-square capacity factory in South Korea.