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. 16 (Korea Bizwire) — SK Innovation Co. said Thursday it has received shareholders’ approval to split off its battery unit to focus on new growth drivers. With the approval, the refinery-to-battery subsidiary under South Korea’s No. 3 conglomerate, SK Group, will be split into two entities that are respectively in charge of its [...]
SEOUL, Aug. 4 (Korea Bizwire) — SK Innovation Co. said Wednesday it turned to the black in the second quarter from a year earlier on robust lube oil and battery sales, and decided to spin off its battery business to further propel its growth. The energy and chemical subsidiary of the nation’s No. 3 conglomerate [...]
SEOUL, July 21 (Korea Bizwire) — SK Innovation Co. has unveiled an ambitious goal of halving its net carbon emissions over the next 10 years. In a report released on its website on Tuesday, the refinery-to-battery maker disclosed detailed plans for reducing net carbon emissions by business, as well as investment plans and a timeline [...]
SEOUL, July 18 (Korea Bizwire) — South Korea’s SK Innovation Co. will receive incentives worth 90 million euro (US$106 million) from the Hungarian government for investing in the country with a project to build a battery plant, the company said Sunday. The energy and chemical subsidiary of the nation’s No. 3 conglomerate, SK Group, has [...]
SEOUL, July 1 (Korea Bizwire) — SK Innovation Co. said Thursday it will invest 30 trillion won (US$26.5 billion) over the next five years to transition from a carbon-intensive model to green business and is considering splitting its battery business as a way to raise funds needed to further foster the new growth driver. The [...]
SEOUL, May 20 (Korea Bizwire) — South Korean battery maker SK Innovation Co. and American automaker Ford Motor Co. will establish a 6 trillion won (US$5.3 billion) joint venture in the United States to produce batteries for electric vehicles, the two companies said Thursday. The two companies signed a memorandum of understanding on the joint [...]
SEOUL, May 18 (Korea Bizwire) — SK Innovation Co., a South Korean refinery-to-battery maker, has agreed to form a joint venture with Chinese companies to produce cathode, a key material for electric vehicle batteries, in China, industry officials said Tuesday. Chinese battery maker EVE Energy’s board of directors has approved the joint venture with SK [...]
SEOUL, May 13 (Korea Bizwire) — SK Innovation Co., South Korea’s refinery-to-battery company, said Thursday it continued to suffer losses in the first quarter despite its strong earnings from its petrochemical business as it reflected hefty settlement costs for a battery suit with its bigger rival LG Energy Solution Ltd. SK Innovation booked a net [...]