SK On aims to dominate global battery market by 2030

SK On Co. is on track to become the world’s No. 1 battery maker by 2030, the company said on Sunday. 

During an interview with the in-house channel SKinno News, CEO Jee Dong-seob said that blueprint is not a faraway dream but a planned future.

Last October, SK Innovation Co. split off its battery unit into a wholly owned subsidiary and appointed Jee as the CEO. 

“During the past five years, the accumulated order volume jumped 27-fold to reach 1600GWh,” the former president of SK Innovation’s battery division said. “The growth potential is also increasing on the back of new orders and partnerships.”

Jee added the company is seeking new opportunities based on its global partnerships such as its tie-in with Ford Motor Company of the US.

The company's two long-term goals are producing the highest quality batteries and maintaining safe and stable mass production systems. 

“Even though batteries have developed in the last 10 years to last longer and charge more quickly, they also have become more dangerous in case of fire,” Jee said. “To dominate the market, safety will become more important than ever."

SK On plans to develop and commercialize its own fire containment technology within the year.

Write to Byung-Uk Do at dodo@hankyung.com
Jee Abbey Lee edited this article.