According to media reports, after LG Chem divested its battery business and established LG Energy Solutions, SK Innovation, which supplies batteries to electric car makers, also plans to divest its battery business and go public to raise funds.

SK Innovation's plan to divest its battery business was revealed by Ji Dong-seop, the head of battery business at SK Innovation, at an event in Seoul, South Korea, on Thursday local time.

Ji Dong-seop said they plan to speed up divesting the battery business and IPO so as not to miss the opportunity to get investment. However, he did not disclose the timetable for SK Innovation to divest the battery business and IPO.