Monday, May 4, 2020
Volkswagen and Ford supplier SK Innovation is building a second plant to make electric vehicle batteries in the U.S.
According to Reuters, the South Korean company will spend $727 million to build the plant in Georgia. Construction will begin in July; production could start in 2023.
SK Innovation is already spending $903 million to build a battery plant that is currently under construction. The company's total investment in Georgia will be about $1.5 billion.
One motivating factor may be a legal dust-up with rival LG Chem. If SK loses the legal fight, it could be blocked from importing batteries into the U.S.
Copyright © 2019 CST, Inc. All Rights Reserved