South Korean electric vehicle parts manufacturer SK IE Technology has secured a $300 million green financing package loan from the International Finance Corporation (IFC), for the expansion of its lithium-ion battery separator plant in Poland. Two-thirds of the funds are being provided directly by the IFC, with the remainder coming from other private banks. The investment will help SK IE Technology to expand its plant and increase its annual production capacity of lithium-ion battery separators to 1.53 billion square metres, which is expected to be the largest in Europe, by 2024. The increased output will be sufficient to supply over two million electric vehicles in the continent. The company has additional separator plants in China and South Korea, while construction has also begun on three plants in Europe. It has not ruled out entering the North American market.
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