"SK Innovation Batteries Have Never Caught Fire"
"Battery Performance Prioritizes 'Safety' Above All"
"ITC Final Ruling, Doing Our Best to Respond Through Legal Procedures"
SK Innovation exhibited Hyundai Motor's electric vehicle 'Niro' at 'InterBattery 2020' held at COEX, Seoul, starting from the 21st. Among the three domestic battery companies, SK Innovation is the only one to showcase Hyundai Motor.
[Asia Economy Reporter Hwang Yoon-joo] Ji Dong-seop, CEO of SK Innovation's Battery Business Division (photo), stated on the 21st regarding the spin-off of the battery business division, "It is under review, but there is no concrete schedule yet."
On the same day, Ji attended 'InterBattery 2020' held at COEX in Samseong-dong, Gangnam-gu, Seoul, and said, "There are advantages to spinning off and advantages to not spinning off." The possibility of SK Innovation's battery business division splitting off to increase corporate value and invest in battery production has been consistently discussed in the market due to the rapid growth of the electric vehicle battery industry.
With competitor LG Chem announcing a plan for a physical spin-off of its battery business division last month, interest in the possibility of additional spin-offs among 'K-Battery' companies has also increased. If the battery business division spins off, SK Innovation will have two battery-related subsidiaries, including its battery materials subsidiary SKIET.
Ji also emphasized, "Regarding the development and production of electric vehicle batteries, we are focusing on three key aspects: safety, fast charging, and long driving range and lifespan," adding, "(Regarding electric vehicle fires) automakers also consider this an important issue and will seek solutions, and the battery industry will do its best for the safety of end consumers."
Regarding the ITC (International Trade Commission) lawsuit with LG Chem, with a final ruling scheduled for the 26th (local time), he said, "It is difficult to predict the ruling, and we are responding to the legal process with our best efforts."
When asked if negotiations with LG Chem are ongoing regardless of the ruling, he said, "Even if we have conversations, confidentiality and other necessary aspects must be maintained," adding, "Although it is an issue between the two companies, since it has a significant negative impact on K-Battery, I think it is better to resolve it quickly," but refrained from elaborating further.
Jidongseop, CEO of SK Innovation's Battery Division, visited the company's booth at 'InterBattery 2020' held at COEX in Seoul on the 21st and is listening to an explanation about the 'lithium-sulfur' battery at the LG Chem booth.
Regarding the recent controversy over the fire in Kia Motors' electric vehicle 'Kona,' he said, "As a battery manufacturer, we have a very strong sense of alertness," adding, "If there is a product issue, it is important to quickly identify the cause and prevent recurrence."
He continued, "Automakers also consider this an important issue and will seek solutions, and SK Innovation will do its best for the safety of end consumers," emphasizing, "So far, there have been no fire incidents involving batteries produced by SK Innovation."
Among the three domestic battery companies, SK Innovation was the only one to exhibit Hyundai Motor's electric vehicle 'Niro.' Ji explained the reason for separately displaying Hyundai vehicles while touring the booth, saying, "Currently, SK Innovation's most important automotive customers are Hyundai·Kia Motors, Volkswagen, and Ford." He added, "We handle Hyundai·Kia's European volume, and we are receiving a good response in Europe."
After visiting the SK Innovation booth, Ji also visited the Samsung SDI booth located right next to it. After touring the exhibition, he moved to the LG Chem booth and received an explanation about the batteries produced by LG Chem.
He praised LG Chem's energy storage system (ESS), pointing to it as "the most impressive product." He then showed interest while examining LG Chem's recently tested 'lithium-sulfur' battery, which was successfully flight-tested after being mounted on an unmanned aerial vehicle.
Meanwhile, 'InterBattery 2020' is the largest domestic exhibition hosted by the Ministry of Trade, Industry and Energy and organized by the Korea Battery Industry Association. It is held for three days from the 21st to the 23rd at COEX in Gangnam-gu, Seoul, with over 200 companies participating this year, including battery manufacturers, automakers, and material suppliers.
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