SK On has begun reviewing a spending plan to expand its electric vehicle battery plant in Seosan, South Korea. The expansion is being considered to better respond to the needs of Hyundai, which is planning to build a new electric vehicle production facility in South Korea.
SK On began construction of its Seosan plant in 2010. It opened in September 2012 with an annual capacity of 200Mwh.
The South Korean battery maker expanded the plant three times in 2014, 2015 and 2016. These expansions were completed in September 2018, ensuring that SK On’s annual capacity at Seosan reached 5GWh.
If SK On approves its latest spending plan, it would be the first time in five years that it has had a plant in South Korea.
The company is verifying the availability of equipment and parts needed to expand the plant, and construction will likely begin in the second half of 2023, with a target completion date of 2025.
SK On could add four production lines, adding 10 GWh to Seosan’s output, which would bring its total production to 15 GWh per year, meaning the plant would be able to supply enough cells for 250,000 units per year, the sources said.
SK On also has plants in China, Hungary and the United States to serve local automotive companies.
