Battery Plant Ivncsa Tender

Scope SK Innovation will initially invest US1.148 billion in SK Battery Hungary SKBH to build its third European factory in Ivncsa Hungary with a production capacity of 30 GWh per year. This scale of output would supply batteries for approximately 430000 cars based on 70 kWh per charging with a more than 400 km range.SKs first and second European plants are also located in Hungary Komrom the expected third plant will be the largest. Construction will begin in the third quarter this year and will last until 2028 with a total of US2.29 billion ultimately to be spent in construction. The company plans to finance the project externally according to the construction schedule. Located 50 km southwest of Budapest Ivncsa is equipped with smooth logistics infrastructure such as railroads and roads an abundant workforce as it is near Budapest and all other sorts of infrastructure which led the city to become the site of SK Innovations new project. With the investment decision this time SK Innovation comes closer to its mid- and long-term goal to become a leading global EV battery company with a production capacity of 125 GWh per year by 2025. With this investment the company will be able better to meet market demands in Europe which are expected to increase more than six times to 256 GWh in 2025 from the current 41 GWh. Focusing on the EV battery industry which fits the best the European Green Deal policy SK Innovation plans to expedite its vision of Green Balance 2030 the core of its ESG management.