SK On, a South Korean battery manufacturer, is seeking to raise $1.5 billion in funding

SK On, a South Korean battery manufacturer, is looking to raise up to 2 trillion Korean won (15 billion US dollars) in funding to expand its overseas facilities. The company has issued tender offers to global investment banks and was spun off from SK Innovation in October. With clients such as Ford, Hyundai, and Volkswagen, SK On already has production facilities in the United States, South Korea, China, Hungary, and Turkey.