SK IE Technology, the material-making subsidiary of SK Innovation, will start the operation of its first separator factory in Poland during the fourth quarter, the company said.
The first factory at Slaskie has an annual capacity of 340 million meter-square, which is enough to provide over 300,000 units of electric vehicles.
SK IE Technology is planning to spend 2 trillion won up to 2024 to secure an annual production capacity of 1.54 billion meter-square at its plant in Poland.
The second factory will start operations in 2023 and will have a capacity of 340 million meter-square like the first.
Two additional factories are planned after that, each with an annual capacity of 430 million meter-square.
In total, SK IE Technology will have an annual production capacity of 2.73 billion meter-square globally, once its plant in Poland is complete.
Separators are used in batteries to divide the anode and cathode.
According to analyst firm IHS Markit, the European electric vehicle battery market is expected to be worth 82GWh this year and grow to 410GWh by 2026.