SK Innovation considering IPO of battery business

Battery cells by SK Innovation are displayed at the company booth during the InterBattery 2021 exhibition at COEX in Seoul on June 11, 2021. (Photo by Jung Yeon-je / AFP)

SEOUL: SK Innovation Co Ltd chief executive officer Kim Jun said yesterday the South Korean company was 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 aimed to increase its annual battery production capacity to 200 gigawatt-hours (GWh) in 2025, up 60% from a previously announced goal of 125GWh. It currently has an annual capacity of about 40GWh of batteries.