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SK Innovation Co. will raise 1.09 trillion won of "green loans" to build its second EV battery plant in Georgia, USA, to start manufacturing in 2023.
The desired loan will be an extension of 728.8 billion won of green financing injected last year in SK battery America Inc., the Korean firm's US subsidiary.
SK Innovation invested 1.8 trillion won on its first EV battery production line in Georgia, which is 90 percent complete and ready for pilot production in the first half of this year.
The two US plants will have a total annual capacity of 21.5 gigawatt-hours, enough to power more than 300,000 EVs.
SK Innovation, the fifth-biggest EV battery producer, shipped 6.5 GWh equivalents of EV batteries in the first 11 months of 2020, equivalent to 5.5 percent of the global market.
