SEOUL, Nov. 20 (Korea Bizwire) – SK On, the wholly owned battery subsidiary of South Korea’s leading refiner SK Innovation Co., said Thursday it will swap stakes in its joint ventures with a Chinese partner as part of a “portfolio rebalancing” strategy. SK On and EVE Power Hongkong Co. established two electric vehicle battery joint [...]
SEOUL, Oct. 23 (Korea Bizwire) – Gov. Bill Lee of the U.S. state of Tennessee on Thursday met with the head of SK On Co. to discuss ways to enhance cooperation and strengthen ties, industry sources said. Lee visited SK On’s headquarters in central Seoul earlier in the day and had talks with Lee Seok-hee, [...]
SEOUL, April 25 (Korea Bizwire) — SK On Co., the battery affiliate of South Korea’s SK Group, said Friday it has been selected as a battery supplier for U.S.-based electric vehicle (EV) startup Slate. Under the deal, SK On will supply 20 gigawatt-hours (GWh) of batteries to Slate from 2026-2031, with an option to increase [...]
SEOUL, March 19 (Korea Bizwire) — SK On has signed its first-ever battery supply contract with a Japanese automaker, securing a massive deal with Nissan valued at an estimated 15 trillion won (approximately $11 billion). In a regulatory filing on Tuesday, SK On announced that it will supply Nissan with 99.4 gigawatt-hours (GWh) of high-performance high-nickel [...]
SEOUL, Dec. 16 (Korea Bizwire) – The U.S. Department of Energy (DOE) has finalized a 14 trillion won low-interest loan for BlueOval SK, a joint venture between South Korea’s SK On and Ford Motor Company, to bolster domestic electric vehicle (EV) battery production. The approval marks the largest EV-related loan under the Biden administration’s Advanced Technology [...]
SEOUL, Jul. 3 (Korea Bizwire) – SK On, the battery manufacturing arm of South Korea’s SK Group, has unveiled a comprehensive restructuring plan aimed at steering the company towards profitability and solidifying its position in the global electric vehicle (EV) battery market. The move comes as SK Group reaffirms its commitment to the battery business as [...]
SEOUL, Jul. 1 (Korea Bizwire) — SK On Co., the loss-making battery unit of South Korea’s chip-to-construction conglomerate SK Group, said Monday it will freeze the annual pay of all executive-level officials until it turns to profit, as part of its cost-cutting measures. Under the measures, C-suite executives, including the chief executive officer, let the [...]
SEOUL, Jun. 26 (Korea Bizwire) — SK On Co., the battery unit of chip-to-construction conglomerate SK Group, said Wednesday it has signed an initial pact with ExxonMobil Corp. for a stable supply of lithium for its EV battery manufacturing. SK On signed a memorandum of understanding (MOU) with ExxonMobil to secure U.S.-produced lithium on the [...]
SEOUL, Apr. 16 (Korea Bizwire) — Last year, all three major South Korean battery makers – LG Energy Solution, Samsung SDI, and SK On – secured positions within the top five in the global electric vehicle battery market, according to a recent report. According to SNE Research, an energy market research firm, the total electric vehicle [...]
SEOUL, Mar. 25 (Korea Bizwire) — L&F Co., a South Korean cathode material company, said Monday it has signed a 13.19 trillion-won (US$9.85 billion) deal to supply high-nickel cathodes to SK On Co., the battery unit of chip-to-construction conglomerate SK Group. L&F will supply 300,000 tons of high-nickel cathode materials for SK On’s car batteries [...]