By Heekyong Yang SEOSAN, South Korea (Reuters) - South Korea's SK Innovation , a supplier of electric vehicle (EV) batteries to Daimler and Volkswagen , aims to boost production capacity more than tenfold by 2022, betting on global demand. The company expects the battery business to break even in 2020, a senior manager said at a news conference on Wednesday at the company's plant in Seosan, a three-hour drive from Seoul. The outlook comes days after Mercedes maker Daimler said it would buy battery cells worth more than 20 billion euros ($23 billion) by 2030 as it readies mass production of hybrid and electric vehicles.
from Latest News Business on Firstpost http://bit.ly/2SnvBvs
Thursday, 27 December 2018
South Korea's SK Innovation bets on Europe, China electric vehicle demand
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