SK Innovation plans $1.67 billion investment in the U.S. that will
create more than 2,000 jobs to manufacture electric vehicle batteries
SK Innovation, a leading developer of lithium-ion batteries for electric
vehicles, announced it will create more than 2,000 jobs and invest $1.67
billion to build a new electric vehicle (EV) battery manufacturing plant
in Georgia.
SK Innovation, which is part of SK Group, is making the investment to
better compete in the growing global EV battery market. Customers for SK
Innovation include Mercedes-Benz and Hyundai-Kia Motors, and this new
investment will provide opportunities for SK Innovation to bring its
world-class products to additional automakers in the United States.
“We are excited to bolster our presence in the United States by making
this investment in Georgia,” said Jun Kim, CEO of SK Innovation. “SK
Innovation is a worldwide leader in the energy industry and this latest
investment will allow us to work with the growing automotive industry in
the Southeastern United States, ensuring future partnerships for years
to come.”
The new plant will be located in Jackson County, Georgia. Construction
will occur in two phases, beginning in early 2019. The first phase will
invest approximately $1 billion and employ more than 1,000 advanced
manufacturing employees, making it the largest scale electric vehicle
battery plant in the United States. SK Innovation leadership worked
closely with federal, state and local officials to finalize the
investment.
“SK Group’s investment in the state of Georgia is undeniable proof that
President Trump’s economic policies are working for the American economy
and American worker,” said U.S. Secretary of Commerce Wilbur Ross. “I am
delighted that a world-class technology company such as SK sees the
merits of manufacturing in the United States. As similar companies
across the world are discovering, there is no better place to do
business than right here in America.”
For decades, SK Group has been building relationships within the United
States. It already has significant investments in the U.S. and currently
employs nearly 2,000 U.S. workers across 10 states.
About SK Innovation Co., Ltd
Established as South Korea’s first oil refining company in 1962, SK
Innovation engages in diverse areas of business, including exploration
and production (E&P), batteries, and information and electronics
materials. It owns SK Energy, South Korea’s No.1 refining company, SK
Global Chemical, the leader in the domestic petrochemical industry, SK
Lubricants, a global lubricants company, SK Incheon Petrochem, a
refining and chemical company, and SK Trading International, a trader of
crude oils and petrochemicals. As part of their management system, SK
Innovation pursues the maximization of happiness for all stakeholders.
It is for this reason that SK Innovation recognizes the importance of
and pays attention to social enterprise, a way to create social values
through business.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181203005133/en/
Copyright Business Wire 2018
Source: Business Wire
(December 3, 2018 - 10:00 AM EST)
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