SEOUL, Feb. 17 (Korea Bizwire) – SK Innovation Co., South Korea’s top refiner, said Wednesday that it has finalized a deal to supply its electric vehicle (EV) battery to Benz’s EV cars starting from 2017, the latest in a series of its EV battery supply deals.
SK Innovation, a latecomer to the EV battery business, did not reveal the value of the deal or other details.
SK Innovation has been pushing for the EV battery business since 2008 by expanding its global outreach as part of efforts to find a new income source.
The company built the first battery plant in Seosan, 150 kilometers south of Seoul, in 2012 and recently doubled its capacity to 700 megawatts, which is capable of providing batteries for 15,000 vehicles a year.
SK Innovation said it may consider further expanding its EV battery output down the road.
The company provides lithium-ion batteries for EVs produced by Kia Motors and China’s state-run Beijing Automotive Industries Holdings.
In South Korea, LG Chem Ltd., a major chemicals and battery firm under the LG Group, and Samsung SDI Co., a chemical unit under Samsung Group are the top two EV battery producers that have clinched several deals with leading automakers over the past years.