April 28, 2020 / 9:14 AM / 3 months ago

REFILE-SK Innovation to invest $727 mln in No.2 EV battery plant in U.S.

(Refiles to read invest (not build) in headline)

SEOUL, April 28 (Reuters) - South Korea's SK Innovation Co Ltd said on Tuesday that its U.S. unit will spend $727 million to build its second electric vehicle (EV) battery plant in the United States to stably supply batteries to automakers.

The plant will have an annual capacity of 11.7 gigawatt-hours of batteries. SK Innovation will begin construction in July with target production in 2023, the company said in a statement.

$1 = 1,220.7600 won Reporting by Heekyong Yang, editing by Louise Heavens

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