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SK Innovation says no decision yet on investment in Hungary

2017/11/28 15:14

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SEOUL, Nov. 28 (Yonhap) -- SK Innovation Co., a South Korean electric vehicle (EV) battery maker, said Tuesday it has reached no decision on building production lines in Hungary.

The company said it plans to build a battery plant in Europe, but a company official said "nothing has been finalized" without giving any further details.

The comments came after a local newspaper reported that SK Innovation is considering building a battery plant in an industrial complex in the northwestern Hungarian city of Komarom.

Komarom is home to assembly lines of German carmaker Audi and is not far away from a plant of another German automaker, Daimler, which owns the Mercedes-Benz.

SK Innovation is South Korea's top oil refiner, but it has been pushing into the EV battery business since 2008 as part of efforts to find new revenue sources.

The company has been seeking to develop a powerful electric vehicle battery by 2020, which would enable a car to travel 700 kilometers on a single charge. Most current technology allows electric cars to cover up to 350 kilometers on a single charge.

entropy@yna.co.kr

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