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SK Innovation Sets Sail toward Global Electric Vehicle Market Contents
title SK Innovation Sets Sail toward Global Electric Vehicle Market
attachment date 2013-01-21 count 19208
- Two global leaders in EV battery area team up to form “SK Continental E-Motion”
- Alliance creates a synergy between SK’s battery cell and Continental’s battery management system technologies
- Executive Vice Chairman of SK Jae-Won Chey unveils the group’s ambitious goal to become a leader in the global EV battery market by 2020


“SK Continental E-motion, ” a solid partnership between two technology leaders SK Innovation and Continental, is moving fast toward the global electric vehicle (EV) market.

SK Innovation(President & CEO Jay Koo, www.SKinnovation.com) said on January 20 that “SK Continental E-motion” officially kicked off at a ceremony attended by Jae-Won Chey, Executive Vice Chairman of SK; Xavier Pujol, Executive Vice President of Continental; Hyeok-Jae Lee, CEO of SK Continental E-Motion; and Marcus Heinemann, CFO of SK Continental E-Motion in Berlin, Germany.

At the ceremony, the new joint venture unveiled its mission which represents “Emotion of SK Innovation and Continental in the electric automotive battery area” as well as an ambitious goal to become the world’s top-tier automotive battery supplier.

Under an ownership structure in which SK innovation and Continental have 51% and 49% respectively, the company will be provided with SK Innovation’s battery cells and Continental’s battery management systems (BMSs) to develop and produce the world’s best battery pack systems. Around 200 employees and managers will be based in the head office in Berlin, Germany and Daejeon R&D Center in South Korea, leading regional sales and production operations.

The launch of “SK Continental E-Motion” comes as the management remains undeterred by the global economic downturn and delivers on its commitments to investments in future cash-cow business. Especially, Executive Vice Chairman of SK Group Jae-Won Chey attended the ceremony following his visit to Germany in July 2012 for the signing ceremony as he realized the need to explore a new growth engine through the battery business and to demonstrate strong leadership for global performance.

”SK Continental E-Motion,” an alliance between two leaders in the electric automotive area SK Innovation and Continental, is well positioned to become a leader in the global EV battery market,” said Jae-Won Chey, Executive Vice Chairman of SK Group. “We will build production systems across the world centering on our Seosan Plant. Using SK Continental E-Motion as a platform, our goal is to become a global leader in the market by 2020.”

SK Innovation aims to become one of global top-tier suppliers in the EV battery market with its focus on the joint venture with Continental

As an alliance between SK Innovation known for its battery cell technology and Continental with technological know-how in battery pack system, BMS and automotive parts areas, the joint venture has attracted keen attention even before the establishment, and is now expected to lead the global EV battery market by taking full advantage of the technology know-how from the two partners.

The joint venture with Continental will accelerate addition of customers which use environment-friendly EV batteries as the German partner has established a network with major global automotive manufacturers through more than century-long experience it has built in the automotive business area

SK Innovation and Continental plan to spend €270 million (approx. KRW400 billion) for the joint venture for the next five years, leading growth of the company as a major EV battery manufacturer with optimized solutions for operations of EV batteries.



※ About Continental AG
With sales of €32.7 billion in 2012, Continental is one of leading global automotive part suppliers which has approximately 170,000 employees in 46 countries. As a supplier of brake systems, systems and components for powertrains and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, Continental contributes to enhanced driving safety and global climate protection. Continental is also an expert partner in networked automobile communication.

하단 텍스트 참조

[SK Continental E-Motion Incorporation Ceremony 1]

하단 텍스트 참조

[SK Continental E-Motion Incorporation Ceremony 2]

하단 텍스트 참조

[SK Continental E-Motion Incorporation Ceremony 3]

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