SK Innovation to invest $1.67 bn for EV battery plant in Georgia

EVgo's High-Power fast charging station in Fremont, California

SK Innovation, a developer of lithium-ion batteries for electric vehicles, announced it will create more than 2,000 jobs and invest $1.67 billion to build a new electric vehicle (EV) battery manufacturing plant in Georgia.

SK Innovation, which is part of SK Group, is making the investment to better compete in the growing global EV battery market.

Customers for SK Innovation include Mercedes-Benz and Hyundai-Kia Motors, and this new investment will provide opportunities for SK Innovation to bring its world-class products to additional automakers in the United States.

“SK Innovation is a worldwide leader in the energy industry and this latest investment will allow us to work with the growing automotive industry in the Southeastern United States, ensuring future partnerships for years to come,” said Jun Kim, CEO of SK Innovation.

The new plant will be located in Jackson County, Georgia. Construction will occur in two phases, beginning in early 2019. The first phase will invest approximately $1 billion and employ more than 1,000 advanced manufacturing employees, making it the largest scale electric vehicle battery plant in the United States.

SK Group already has significant investments in the U.S. and currently employs nearly 2,000 U.S. workers across 10 states.