- July 1, 2021
- Posted by: Stratford Team
- Category: Business
The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji
- SK Innovation to ramp up battery capacity
- News of possible spin off drives shares to three-week lows
- CEO considering dual listing in S.Korea and U.S.
SEOUL, July 1 (Reuters) – SK Innovation Co Ltd (096770.KS) Chief Executive Officer Kim Jun said on Thursday the South Korean company is considering a spin off and a potential listing of its battery business as it also announced plans to boost battery production.
The company said it aims to increase its annual battery production capacity to 200 gigawatt-hours (GWh) in 2025, up 60% from a previously announced goal of 125 GWh. It currently has an annual capacity of about 40 GWh of batteries.
Asked about a possible initial public offering of its battery business, Kim said: “If there is an opportunity, we will review whether to list only on Nasdaq or dual listing as our options.”
“We haven’t…
