On November 20, at around 2:50 pm that day, a fire broke out at SK On’s new electric vehicle (EV) battery factory in Yancheng, China. Fortunately, no casualties were caused.

It is understood that the SK New Energy (Jiangsu) factory is the largest power battery investment project in SK Group’s global layout. It covers the entire industry chain such as R&D centers, cathode materials, separators, power batteries, and battery recycling. It also conducts solid-state batteries, etc. Research on future technologies.

SK On's first factory in Yancheng is a joint venture with a Chinese battery factory, with an annual production capacity of 10 GWh. The second factory in Yancheng where the fire occurred will not cooperate with the Chinese company, but will be operated independently. The annual production capacity of the factory is 33GWh. , is conducting trial operations in order to mass-produce EV batteries.

Not only in the field of electric vehicle batteries, the company is also actively exploring new battery-related business fields such as ESS (Energy Storage System), flying cars, and robots, as well as accelerating BaaS (Battery as a Service). Through the operation of new growth drivers such as platform businesses, we will build a virtuous cycle and increase corporate value, striving to become the world's leading battery manufacturing company and leading the innovation and development of the power battery industry.

According to reports, SK On's original goal was to start mass production of the above-mentioned new factory from April to June 2024, but now the official mass production time may be determined after the completion of the fire investigation and other work.

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