SK Innovation said on Feb 17 that it has signed a contract with Mercedes-Benz to supply battery cells for Mercedes-Benz electric cars, which will come out in 2017.
SK Innovation and EV battery cell maker said it is the large-scale project but they declined to unveil the details.
"Mercedes-Benz will be formed into battery packs and equipped in future Mercedes-Benz electric vehicles," SK Innovation said in a statement. "With our battery cells, the German premium carmaker plans to expand its clean-energy EV lineup in full scale."
The Korean battery maker said its electric vehicle business raked in $145.4 million in sales last year, and it is considering adding lithium-ion battery lines this year after bagging the Daimler deal.
EV battery demand from its current customers is also expected to increase as the electric car market is expanding.
Meanwhile, SK Innovation expends its project in the global EV market to reach 6 million by 2020 in line with strengthening environmental regulations in Europe, China and the United States.
