South Korean EV battery manufacturer SK Innovation Company said it has started operations at its second battery separator factory in China, as it continues to ramp up capacity in the largest electric vehicle (EV) market.
The group main battery materials subsidiary, SK IE Technology Company (SKIET), opened its first overseas separator production facility in Changzhou last November at the site of the parent company lithium-ion battery plant.
The second facility, located in the same complex, increases annual capacity in China to 510m sq m of material, enough for 500,000 EV battery packs.
SKIET said it had secured a large number of supply deals starting this year and will likely ramp up production capacity further in line with demand.
The company also plans to begin battery separator production in Poland in the third quarter of 2021.
SKIET plans to list its shares on the Seoul stock exchange in May to raise funds for further production capacity expansion. The company has an estimated market value of close to KRW7.5trn (US$6.7bn).