Gate News message, April 22 — South Korean battery maker SK On announced plans to open a Tokyo office this month as its fourth global base, targeting expansion in Japan’s electric vehicle and energy storage markets.
The move comes as Japan ramps up EV support, with maximum subsidies reaching 1.3 million yen (US$8,200) and first-quarter passenger EV sales surging 80% year-on-year to a record 26,959 units. SK On has already deepened ties with Japanese automakers, signing a 15 trillion won (US$10.2 billion) supply deal with Nissan last year to provide 99.4 gigawatt-hours of batteries for North American models from 2028 to 2034.
The Tokyo office positions SK On to capitalize on Japan’s push to build a domestic battery supply chain, with up to US$2.4 billion allocated for local production projects. The expansion also reflects broader efforts to apply battery technology beyond vehicles, supporting grid stability as renewable energy adoption accelerates.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Saudi IT Company Dar Albalad Launches First GCC IPO Since Iran War Began
Gate News message, April 22 — Dar Albalad for Business Solutions Company, a Saudi IT services provider, is pursuing the first initial public offering in the Gulf Cooperation Council (GCC) region since the start of the Iran war. The company will float 21 million shares, representing 30 percent of
GateNews3m ago
H.C. Wainwright Initiates Buy Rating on Strive with $36 Price Target
Gate News message, April 22 — Investment bank H.C. Wainwright has initiated a buy rating on Strive (ASST), a Bitcoin Treasury Company, with a price target of $36 per share.
GateNews54m ago
Kaijian Subsidiary Sells Shanghai Jiading Assets for 35M Yuan Net Gain; Debt Restructuring Progresses
Gate News message, April 22 — Kaijian (01098.HK), a Hong Kong-listed property developer, announced on April 21 that its indirect wholly-owned subsidiary Shanghai Heqiang Real Estate Development Co., Ltd. will sell an 80% stake in Shanghai Junxin Property Co., Ltd. to co-sellers for a total
GateNews54m ago
Li Lin Moves Avenir Trading to Hong Kong's Bitfire for $1.6M
Abstract: Reuters reports that Li Lin is moving part of Avenir Group's investment team and trading systems to Bitfire Group, a Hong Kong-listed firm, in a $1.6 million deal to develop bitcoin-linked wealth products. Bitfire plans to launch a regulated bitcoin-denominated asset vehicle called Alpha BTC and to use bitcoin derivatives to attract assets, signaling Hong Kong's growing role as a regulated crypto hub, while Li Lin maintains ties to Hong Kong-listed crypto companies.
Li Lin moves Avenir Group’s trading team to HK-listed Bitfire for $1.6 million, enabling Alpha BTC and regulated bitcoin exposure, as HK cements its crypto hub role.
CryptoFrontier1h ago
SK Hynix to Invest $12.85B in Advanced AI Memory Packaging Plant in South Korea
SK Hynix plans a Cheongju HBM packaging plant (P&T7) covering ~231,400 m2 with 19T won, plus a 2025 expansion of 20T won; co-located wafer/packaging as part of a three-site strategy including Indiana and ASML orders.
Abstract: SK Hynix announced a major investment to build a large HBM packaging facility in Cheongju (P&T7), co-located with wafer production, as part of a three-site packaging strategy that includes an Indiana hub and substantial ASML equipment orders to meet rising AI memory demand.
GateNews2h ago
MicroStrategy Overtakes BlackRock in Bitcoin Holdings, Now Holds 815,061 BTC
MicroStrategy now holds 815,061 BTC, surpassing BlackRock after buying 34,164 BTC for $2.54B; reserve ~$61.6B with cost basis ~$75.5k. Unrealized profit ~ $242M; 6.2% April yield (9.5% YTD).
GateNews3h ago
