SK Innovation recently announced that the recent spin-off of SK on’s electric vehicle battery business has a backlog of 220 trillion won.
Business Korea reported that SK Innovation disclosed the above figures during the third-quarter earnings conference call. The company announced that its operating profit for the third quarter of 2021 was 618.5 billion won and sales were 12.3 trillion won. Operating profit increased by 672.2 billion won year-on-year, and sales increased by 48.1% year-on-year.
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During the conference call, Yoon Hyung jo, vice president of SK Innovation’s battery planning department, specifically disclosed the company’s battery order backlog.
Yoon Hyung jo said that following the recent establishment of a joint venture with Ford, our order backlog has increased to approximately 1.6 TWh, and its value is estimated at 220 trillion won.
It is understood that the total annual production capacity of SK Innovation’s factories in South Korea, the United States, China, and Hungary is about 40 GWh. It plans to increase the production capacity to 85 GWh by 2023, 200 GWh by 2025, and 500 GWh by 2030. GWh. It plans to occupy more than one-fifth of the global electric vehicle battery market by 2030.
