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GPI, battery maker to build out a production facility in Ulan city

According to Yonhap News,

Green Power Innovation (GPI) signed an MOU to establish its production facility to manufacture rechargeable batteries on Sep 3 with the city of Ulsan. GPI, founded in 2011 in Yangsan, South Gyeongsang Province, is a rechargeable battery maker, partnering with Korea’s top and the second top battery producer, LG Chem and SK Innovation. With soaring demand for the battery, mainly led by EV sales increase worldwide, GPI is one of promising businesses with full potential to scale up.

Under the investment pact, the battery maker builds out a production plant (gross area: 3,351㎡) on a 4,654 ㎡ near Ulju-gun Hightech Valley, city’s main hub to develop growth drivers and hidden champions in the local community. The project breaks ground in September and comes to an end in July next year. The city government pledged both administrative and financial support to speed up the investment process.

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Source: Yonhap News (Sep 3, 2020)

** This article was translated from Korean.