SEOUL, Oct. 1 (Korea Bizwire) — SK Innovation Co. is said to be in the process of pushing for the establishment of a facility that would build electric car batteries in the U.S.
According to industry sources, SK Innovation has been considering a few locations in the U.S. deemed suitable for the plant, but the specific details of the size and production capacity of the facility remain unknown.
Analysts say that the move by SK Innovation can be interpreted as a recognition by the company of the importance of the electric car market in the U.S. in addition to markets in China and Europe.
If SK Innovation’s ambitions are realized in the U.S., the tech giant will achieve a four-plane formation alongside LG Chem Ltd. connecting South Korea, Europe, China and the U.S.
Earlier in the year, LG Chem announced that it was investing in Hungary to establish a factory in Europe.
Following that development, SK Innovation announced plans to create electric car battery factories in China and the U.S.
The factory to be set up in the U.S. is expected to be equipped with facilities to handle original equipment manufacturer (OEM) orders.
H. S. Seo (email@example.com)