SK Innovation is set to invest $2.5 billion to boost its global growth by expanding its oil exploration, chemicals and battery businesses. The company will invest in new growth opportunities and business innovations. Under the strategy, SK Innovation would target its continued investment on mergers and acquisitions in oil exploration and chemicals segments. Besides, it plans to expand its battery facilities. The company plans to increase its battery production by expanding its battery facilities in its home country. SK Innovation is planning to establish two more production units in Seosan in South Korean province of South Chungcheong to increase its battery production for electric vehicles, reported Pulse. The company is also likely to grow its employee strength by around 1,200 in the next five years.