SEOUL, Nov 4 (Reuters) - The artillery portion of South Korea's SK Innovation Co Ltd (096770.KS) plans to put $2.53 cardinal to physique a caller electrical conveyance (EV) artillery mill successful China, China's section authorities backed Yancheng News reported connected Thursday.
SK Innovation's wholly-owned artillery subsidiary SK On, which supplies electrical car batteries to Ford Motor Co (F.N), Volkswagen (VOWG_p.DE) and Hyundai Motor Co (005380.KS) among others, has artillery accumulation sites successful the United States, Hungary, China and South Korea.
The institution had said successful September it planned to physique a caller artillery mill successful China with an archetypal concern of 1.2 trillion won ($1.01 billion).
"SK On has been gathering (battery) factories successful the United States, China and Hungary arsenic a maturation strategy aft securing artillery orders successful the planetary market," SK On said successful a statement.
SK On said past week that it has an bid backlog of astir 1.6 terawatt hours (TWh) of batteries worthy astir 220 trillion won, which could powerfulness astir 23 cardinal electrical vehicles.
($1 = 1,183.4000 won)
Reporting by Heekyong Yang and Brenda Goh; Editing by Kim Coghill
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