By Kim Yoo-chul
SK Innovation (SKI), the battery affiliate of SK Group, said Friday it will invest 1.3 trillion won, or $1.17 billion, to build a new battery factory in Hungary and expand output capacity in Europe. SKI s board approved a plan to invest in a new battery factory in Ivancsa, Hungary. The new plant, which will have the largest capacity in terms of battery output volume compared to two existing plants in Hungary, will go online starting in 2023, the company said in a filing to the Korea Exchange (KRX).
SKI did not specify the estimated battery output capacity of the new factory. However, sources involved with the issue said the estimated annual manufacturing capacity of the new facility would reach at least 10 gigawatts per hour (GWh) in the best-case scenario, increasing from the current 7.7 GWh and 9 GWh at its first and second plants in Hungary, respectively.
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Ask almost any U.S. International Trade Commission (ITC) lawyer about the odds of a stay of the ITC investigation in favor of an inter partes review (IPR), and you’ll get a familiar response full of certainty: Not happening. But is that about to change?
Recently, the Patent Trial and Appeal Board (PTAB) has refused to institute IPR proceedings where there was a pending ITC investigation, citing at least in part the fact that the requester/respondent in the ITC matter had failed to seek a stay of the ITC investigation.
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By Kim Eun-jung SEOUL, Jan. 29 (Yonhap) SK Innovation Co. said Friday it turned to the red in 2020 on heavy losses from its refinery business hit by the COVID-19 pandemic but plans to expand investment to increase production of electric vehicle batteries. South Korea s top refiner said it posted 2.2 trillion won (US$2 billion) in net losses last year, turning from a net profit of 65.7 billion won a year earlier, the company said in a regulatory briefing. The annual operating losses reached a record of 2.6 trillion won for the year, also shifting from an operating profit of 1.1 trillion won in 2019. Its sales tumbled 30.7 percent on-year to 34.2 trillion won.