"Turning its focus on the EV battery business, South Korea’s SK Innovation, proposes to boost its production capacity more than tenfold by 2022, to 55 gigawatt-hours from 4.7 gigawatt-hours a year currently. A supplier of EV batteries to Daimler and Volkswagen, SK Innovation's proposal follows Daimler, stating it would buy more than 20 billion Euros ($23 billion) worth of battery cells by 2030. Daimler and other European automakers are rapidly expanding their EV production, with European regulators tightening regulations on diesel emissions. SK Innovation also stands to benefit from China pledging to increase EV sales quota, while phasing out subsidies for electric and plug-in hybrids by 2020, allowing Chinese carmakers to consider obtaining EV batteries from alternate manufacturers. Currently, EVs with South Korean batteries, are not eligible for subsidies in China." – Vinay Piparsania