A Second Electric Vehicle (EV) battery plant is set to be constructed in Georgia, US by South Korea’s SK Innovation. The new factory, together with the first EV battery plant, will have a combined annual capacity of 21.5GWh.
According to SK Innovation CEO Jun Kim, while the global community faces challenging times, SK Innovation believes it is important to continue making strategic investments to drive economic growth and meaningful change. “With this investment, SK Innovation’s battery business will significantly contribute to not only the local Georgia economy but the development of the U.S. EV industry value chain and ecosystem,” he added.
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Construction duration
SK Innovation commenced construction on the first plant at the Georgia site in March 2019. It is scheduled to start mass production in 2022. Construction on the second plant will commence in July 2020 and it is expected to be complete by 2023. Upon completion of the two EV battery plants, the Georgia site will increase SK Innovation’s annual global capacity to 71GWh.
The second EV battery plant will increase SK Innovation’s investment in the US State of Georgia to US $2.5bn. The company also said it is considering an investment of US $5bn in its battery business in the US. The move is expected to create as many as 6,000 jobs.
