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 [...]
SEOUL, April 29 (Korea Bizwire) — South Korean automaker Kia Corp. and its battery supplier SK Innovation Co. will work together for the recycling of used electric vehicle (EV) batteries to secure valuable metals and reduce waste, the companies said Thursday. SK Innovation supplies lithium-ion batteries for Kia’s EV6 and other EV models, and they [...]
SEOUL, April 28 (Korea Bizwire) — SK Innovation Co., a South Korean refinery-to-battery maker, said Wednesday it has struck a deal to sell its 40 percent stake in a lubricant subsidiary to a Korean private equity fund for 1.1 trillion won (US$987 million) as it is seeking to secure funds for its battery business. SK [...]
SEOUL, April 25 (Korea Bizwire) — SK Innovation Co., South Korea’s refinery-to-battery maker, is back in the driver’s seat to propel its electric vehicle battery business with stake sales and a planned listing of its subsidiary as its recent settlement with LG Energy Solution Ltd. cleared prolonged business uncertainties. The subsidiary of the nation’s No. [...]
SEOUL, April 16 (Korea Bizwire) — South Korean auto giant Hyundai Motor Group said Friday it will collaborate with local battery maker SK Innovation Co. to develop the battery system for its upcoming hybrid electric vehicles (HEVs). The pouch-type battery cell will be topped on HEVs to be released by the automotive group’s two affiliates [...]