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SK Innovation to invest $4.3 billion in U.S. battery production with Ford Motor By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO SK Innovation’s logo is shown in front its Seoul, South Korean headquarters on February 3, 2017. REUTERS/Kim Hong-Ji/File Photo

SEOUL (Reuters) – South Korea’s SK Innovation Co Ltd plans to invest 5.1 trillion won ($4.32 billion) to build battery production facilities in the United States through its battery joint venture with Ford Motor (NYSE:) Co through 2027, the company said in a regulatory filing on Tuesday.

South Korea’s battery producer, which makes electric vehicles for Ford Motor Co. and Hyundai Motor Co., also operates battery plants in China, Hungary and South Korea.

($1 = 1,179.6200 won)

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