On August 4, SK Innovation announced that it would become a holding company as part of its new business strategy, discontinuing its battery and oil business, while other divisions would remain under headquarters.
The independent company, which will be formed from the battery division, is expected to be called SK Battery and will become independent from October 1. The goal is to strengthen individual business lines and narrow their focus.
We are making all units more flexible to deal faster with the challenges we face,” said Kim Jong Hoon, CEO of SK Innovation.
He is also an important player in Hungary
SK Innovation is currently the sixth largest battery manufacturer in the world, with a capacity of more than 40 GWh. In addition to South Korea, the company has factories in China, the United States and Hungary in Komarom. The company’s goal is to reach 85, 2030,500 gigawatt-hours of global capacity by 2023, and SK Innovation will make further investments in Hungary in order to achieve this goal.
The company also presented its business data for the second quarter when it announced the split. The battery division reported sales of 630.2 billion won (+86 percent compared to the second quarter of 2020) and a loss of 97.9 billion won, which translates to 464 million euros in sales and 72 million euros in losses, elective.com reports.
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