SK Innovation announced on Friday that it plans to invest 1.26 trillion won to build a third factory at its Hungary battery production plant.
It will invest the funds into SK Battery Hungary Kft, its factory company at Hungary.
When completed, and combined with the first and second factories at Komarom, the company will secure an annual battery production capacity of over 20GWh there. The third factory will be built at Ivancsa.
The company completed the first factory, which has a production capacity of 7.5GWh, last year. The second factory, which has a production capacity 9GWh, is currently being built.
The third factory will have a capacity of 10GWh. Ivancsa is 20 minutes in driving distance away from Ford’s factory in Hungary and an hour and 20 minutes away from Mercedes-Benz’ factory.
As of last year, SK Innovation has in total secured an annual battery production capacity of 29.7GWh from factories in Hungary, China and South Korea. This is six times of its capacity of 4.7GWh in 2019.