SK Innovation divested its battery business and established new company SK On

According to the latest report, after LG Chem divested its battery business and established a new company, LG Energy Solutions, which focuses on electric vehicle batteries and other businesses, SK Innovation also divested its battery business and established a new company SK On.

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Moreover, SK Innovation has divested its battery business and established a new company, SK On. According to the source, they are also considering listing and financing to expand the scale and promote development through financing.

But for SK On’s listing and financing, Kim Jun, the vice chairman and CEO of parent company SK Innovation, said on Thursday local time that they would not consider it for at least the next two to three years.

Kim Jun revealed that they will still raise funds in other ways. Before going public for financing, they will enhance the competitiveness of the company and enhance the value of the company.

Furthermore, Kim Jun said after the shareholder meeting that the most important thing to promote the IPO is to get their battery business recognized by the market. As they continue to expand their scale, they need large-scale resources, and they plan to sign related investment agreements in the first half of this year.

Kim Jun also revealed that they are expected to deliver impressive results in terms of sales, profitability, and equipment stability management after 2025, and he also believes that if they conduct an IPO, it will be after 2025.

(via)