Market and product
SK Energy to expand battery manufacturing
SEOUL July 26 (Reuters) - South Korea's SK Energy (096770.KS: Quote) confirmed on Monday it would expand its local battery manufacturing capacity for electric vehicles by 2012.
Its second rechargeable battery plant will be built in Seosan, about 150 kilometres southwest of Seoul, with capacity to produce 500,000 units annually for hybrid vehicles, the country's top crude oil producer said in a statement.
SK Energy has been focusing on batteries for electric vehicles to capitalise on the global green energy push. Its No.1 plant has annual capacity of 80,000 units for hybrid vehicles. [ID:nTOE66M02C]
It was chosen as a supplier of lithium-ion batteries for a hybrid electric vehicle project for Daimler (DAIGn.DE: Quote) unit Mitsubishi Fuso last year, and for Hyundai Motor (005380.KS: Quote) and Kia Motors (000270.KS: Quote) electric vehicles this month. [ID:nSEO13078] [ID:nTOE66L02D]
(Source: Reuters, Reporting by Cho Mee-young)
