"Blue Dragon Energy was an investment entity for the battery business in Greater China. After the split-off of SK On from SK Innovation in 2021, Blue Dragon Energy no longer has a reason to run under SK Innovation, as SK On is active in China," explained an SK Innovation spokesperson, according to reports.former SK hynix CEO Lee Seok-hee to lead the division in an effort to stabilize SK Innovation at a time when it has been losing money.
Before Blue Dragon was nixed, it had planned to establish a battery cell factory, promote partnerships that would secure raw battery materials, and strike joint ventures. SK Innovation had invested ₩86.4 billion in 2018 to get Blue Dragon Energy going, and itself into the Chinese battery market.
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