SK Innovation has revealed its plan to expand its electric vehicle (EV) battery production facilities by more than two times in a bid that is interpreted as an attempt toward an organic response to the growth of the global EV battery market.

The decision to invest on the addition of the fifth and sixth battery production facilities came at SK Innovation’s board of directors meeting during the end of last month, paving the way for the construction of the production facilities.

The two new facilities will contribute a total of 2 GWh in terms of production capability, raising the total production capability of SK innovation to 3.9 GWh. Through the new facilities, SK Innovation will be able to produce enough battery cells for 140,000 EVs each year. The new facilities will be added to the Seosan Battery Factory 2 during the first half of 2018, and they are expected to start the mass production process during the latter half of the year.

SK Innovation has commented: “This investment is a strong action toward our goal of strengthening our new growth industries, which are centered around EV battery production, and through it the restructuring and innovation of our business structure.” The company also said: “It is a meaningful move in a sense that it represents the continuation of our growth through the utilization of major projects in the global market.”

CEO Jun Kim added: “SK Innovation’s battery division has shown a steady growth throughout the recent yearsd on technological expertise and the trust of our major partners.” He further said: “We will focus on strengthening our forays into battery markets in both local and international areas in our bid to rise to the Global Top 3.”