"100% Conversion to Electric Cars for Executives"... SK Innovation Replaces with Vehicles Equipped with Its Own Batteries

[Financial News] SK Innovation announced on the 11th that it will replace all executive vehicles, including those of its business subsidiaries, with electric cars.
The target for conversion is Hyundai Motor's Ioniq 9 and eG80, both of which are equipped with batteries supplied by its battery subsidiary SK On. The replacement work will begin in early September and is expected to be completed within the year.
An SK Innovation representative said, "The domestic electric vehicle industry has faced difficulties due to the global economic downturn and the electric vehicle chasm phenomenon," adding, "We will contribute to expanding the domestic electric vehicle distribution rate through the full conversion of executive vehicles to electric cars."
According to the Ministry of Land, Infrastructure and Transport, out of 846,000 newly registered vehicles in the first half of this year, 94,000 were electric cars, with a distribution rate of only 11%. During the same period, the proportion of electric and plug-in hybrid cars in China's passenger car sales reached 52%.
Affiliates plan to significantly expand electric vehicle charging and safety facilities at major headquarters, including SK Seorin Building in Jongno-gu, Seoul, in line with this conversion.
Since June last year, SK On has been operating a subsidy program for purchasing Hyundai and Kia electric cars equipped with its batteries to encourage employees to buy electric cars. In the third and fourth quarters of this year, the support fund for Ioniq 9 was increased from 10 million won to 15 million won.
Meanwhile, SK Innovation officially announced the merger of SK On and SK Enmove on July 30, declaring the strengthening of competitiveness in the electrification business.
Jang Yong-ho, the general manager of SK Innovation, said at the 'SK Innovation Corporate Value Enhancement Strategy Briefing' held at SK Seorin Building in Jongno-gu, Seoul, "We will leap forward as a total energy company with the best competitiveness in the future electrification era." moving@fnnews.com Lee Dong-hyuk Reporter