SK innovation has successfully applied high energy density ternary materials to lithium-ion batteries for the first time in the electric vehicle battery industry for mass production. Based on such technological capabilities, SK innovation signed supply contracts with major global automakers, Hyundai Motor Group, BAIC Group and including Daimler AG has been expanding the electric vehicle battery business. SK innovation started the development of lithium-ion batteries for hybrid electric vehicles in 2005 and their production in 2006. In 2010, SK innovation was selected as a battery provider for Hyundai’s BlueOn, Korea’s first electric vehicle, and Kia’s Ray. In February 2011, SK innovation was designated to supply batteries to SLS AMG E-Cell, the first electric supercar of Mercedes-AMG, the high performance automobile division of Daimler AG. As such, SK innovation has been widely recognized by major global automakers for its technological prowess.