SEOUL -- SK Innovation will spend 30 trillion won ($26.5 billion) on its electric vehicle battery business over the next five years, the South Korean energy and materials company said Thursday, looking to multiply production capacity by a factor of five to capture surging global demand.
Technology
SK Innovation pumps $26bn into EV batteries to quintuple output
South Korean company aims to be in top 3 of the field by 2022
SK Innovation is building five new EV battery factories across the U.S., Europe and China. (Photo courtesy of SK Innovation)
Read Next
Latest on Technology
