SEOUL, Oct. 4 (Korea Bizwire) – South Korean battery maker SK Innovation Co. said Monday that it plans to double the number of researchers to develop electric vehicles (EV) batteries from the current level by 2023. SK Innovation CEO and President Kim Jun made the announcement at a global forum in San Francisco on Saturday [...]
SEOUL, Oct. 1 (Korea Bizwire) — SK Innovation Co. launched its battery business as a standalone company Friday to take a bigger chunk of the growing electric vehicle (EV) battery market. SK Innovation also hived off its oil exploration and production business to serve as a holding firm in charge of making major business decisions [...]
SEOUL, Sept. 28 (Korea Bizwire) — South Korean battery maker SK Innovation Co. and American automaker Ford Co. said Tuesday they will invest 13 trillion won (US$11 billion) to build three electric vehicle batteries in the United States by 2025. A joint venture between the two companies, called BluOvalSK, will build an assembly and battery [...]
SEOUL, Sept. 24 (Korea Bizwire) — SKC Co., a chemical unit of South Korean conglomerate SK Group, said Friday it will expand its manufacturing capacity for major battery materials to capture a bigger share of the growing segment. SKC said it aims to generate over 80 percent of its earnings from electric vehicle (EV) material [...]
SEOUL, Aug. 2 (Korea Bizwire) — Korean battery firms are boosting investment in key materials to secure a stable electric vehicle (EV) battery supply chain and lower manufacturing costs in the face of intensifying global competition. Three Korean battery makers — LG Energy Solution Ltd., Samsung SDI Co. and SK Innovation Co. — have announced [...]
SEOUL, July 29 (Korea Bizwire) — Three South Korean electric vehicle (EV) battery makers accounted for a third of the global market in the first half of the year, but they are facing toughening competition with Chinese rivals, a market research firm said Thursday. The trio — LG Energy Solution Ltd., Samsung SDI Co. and [...]
SEOUL, July 29 (Korea Bizwire) — South Korea’s financial regulator said Wednesday that all of the nation’s insurance companies will start selling riders from early next month to offset the entire cost of replacing electric vehicle (EV) batteries. When EV batteries are damaged, partial repair is almost impossible. In most cases, accordingly, batteries need to [...]
SEOUL, July 20 (Korea Bizwire) — SK Materials Co., a semiconductor and display material subsidiary under SK Group, said Tuesday it will form a joint venture with Group 14 Technologies to tap into the lithium-ion battery material business. SK Materials said it plans to invest 60 billion won (US$52 million) to hold a 75 percent [...]
SEOUL, July 8 (Korea Bizwire) — To get faster to an electric future, automakers need lighter, faster-charging batteries, and South Korea wants to take a leading role in the global battery race amid a major technological shift in the automotive industry. South Korea, China and Japan produce most of the world’s EV batteries, but auto [...]
SEOUL, June 30 (Korea Bizwire) – Three South Korean electric vehicle (EV) battery makers accounted for a third of the global market in the first five months of the year, but their share has slightly slipped since last year in the face of toughening competition with Chinese rivals, a market research firm said Wednesday. The [...]