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    A096770   KR7096770003

SK INNOVATION CO., LTD.

(A096770)
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SK Innovation Teams Up With Solid Power to Make Solid-State EV Batteries

10/28/2021 | 03:46am EST

By Fabiana Negrin Ochoa

South Korea's SK Innovation Co. has formed a partnership with Solid Power Inc., a battery maker backed by BMW Group and Ford Motor Co., under which it plans to invest $30.0 million in the U.S. company and jointly produce all-solid-state rechargeable batteries for electric vehicles.

The companies announced the deal Thursday, signing a memorandum of understanding and joint development agreement for SK Innovation to produce automotive-scale, all-solid-state battery cells using Solid Power's technology.

Solid Power will license its technology to SK Innovation--an oil-and-chemical company that forms part of the sprawling SK Group conglomerate--to integrate it into its existing cell production.

"The partnership with SK Innovation is designed to validate that Solid Power's all-solid-state production processes are scalable and compatible with existing lithium-ion production technology," Solid Power Chief Executive Doug Campbell said.

The two companies will also work on developing Solid Power's all-solid-state technology further.

Solid-state batteries, which replace liquid electrolytes with a solid, could be transformative for the EV industry if they prove to be more stable and safer than traditional lithium batteries. However they have yet to be mass produced for automotive use due to costs and other considerations. Major companies like Toyota Motor Corp. and Hyundai Motor Co., among others, are working on the technology.

Both BMW and Ford, which in May led a $130 million Series B investment round in Solid Power, have said they plan to use the company's battery technology in future EVs. The two car makers also have joint development agreements with Solid Power.

According to Thursday's statement, SK Innovation will make its $30.0 million investment via a subscription to buy shares in a previously announced private-investment-in-public-equity deal of Decarbonization Plus Acquisition Corporation III, a blank-check company Solid Power is merging with. The merger is expected to be completed in the fourth quarter.

Write to Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com

(END) Dow Jones Newswires

10-28-21 0546ET

Stocks mentioned in the article
ChangeLast1st jan.
DECARBONIZATION PLUS ACQUISITION CORPORATION III 5.34% 12.48 Delayed Quote.0.00%
SK INNOVATION CO., LTD. 2.06% 198500 End-of-day quote.4.47%
All news about SK INNOVATION CO., LTD.
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AQ
11/15SK Innovation Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months ..
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11/04SK On to Spend $2.5 Billion for New EV Battery Production Facility in China
MT
11/04S.Korea's SK On to invest $2.5 billion to build new EV battery factory in China -govt m..
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11/01Nomura Adjusts SK Innovation's Price Target to 310,000 Won From 315,000 Won, Keeps at B..
MT
11/01South Korea Stocks Rise as Investors Pick Up Oversold Stocks; Amorepacific Shares Add 5..
MT
10/31SK Innovation Swings to Profit in Q3
MT
10/28SK Innovation flags steady Q4 growth in refining margins
RE
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Analyst Recommendations on SK INNOVATION CO., LTD.
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Financials
Sales 2021 45 786 B 38,9 B 38,9 B
Net income 2021 764 B 0,65 B 0,65 B
Net Debt 2021 10 819 B 9,20 B 9,20 B
P/E ratio 2021 24,8x
Yield 2021 0,78%
Capitalization 16 494 B 13 896 M 14 020 M
EV / Sales 2021 0,60x
EV / Sales 2022 0,53x
Nbr of Employees 2 469
Free-Float 54,9%
Chart SK INNOVATION CO., LTD.
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SK Innovation Co., Ltd. Technical Analysis Chart | A096770 | KR7096770003 | MarketScreener
Technical analysis trends SK INNOVATION CO., LTD.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 29
Last Close Price 198 500,00 KRW
Average target price 355 931,03 KRW
Spread / Average Target 79,3%
EPS Revisions
Managers and Directors
Jun Kim President, Chief Executive Officer & Director
Jang-Woo Kim Head-Finance
Il-Soo Kim Head-Research & Development
Byung-Rae Lee Head-Compliance Support
Joon Kim Independent Director
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