Daimler's Mercedes-Benz has signed a sourcing deal with South Korea's SK Innovation for electric vehicle (EV) batteries.

SK Innovation, primarily an oil refining company belonging to local conglomerate SK Group, built its first battery plant in Seosan, 150km south of the country's capital city Seoul, in 2012. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The factory has the capacity to produce 15,000 lithium-ion battery sets per year, which it supplies to Kia Motors and China's Beijing Automotive Industry Holdings. The company plans to expand capacity further when required.

South Korea's two largest EV battery manufacturers are LG Chem and Samsung SDI which have supply contracts with most major global automakers.