SEOUL, May 24 (Korea Bizwire) — South Korean battery maker SK On Co. has secured US$944 million from investors in a round of funding in preparation for an initial public offering (IPO), its parent company said Wednesday. The board of SK Innovation Co. approved the equity investment agreement it and SK On signed with a [...]
SEOUL, May 23 (Korea Bizwire) —In a recent development, SK On, the Seoul-based battery manufacturer currently engaged in a joint venture with Ford Motor Company in the United States, has expressed unease regarding Ford’s announcement regarding the procurement of its own raw materials. SK On denies having engaged in any discussions with Ford regarding the [...]
SEOUL, May 3 (Korea Bizwire) — South Korean battery maker SK On Co. said Wednesday it has signed an agreement with a U.S. graphite company to develop battery-grade anode materials in an effort to bolster the sourcing of raw materials. The joint development agreement (JDA), inked with Westwater Resources Inc., calls for the two companies [...]
SEOUL, April 25 (Korea Bizwire) — Hyundai Motor Group said Tuesday it will build a 6.5 trillion-won (US$4.9 billion) electric vehicle (EV) battery plant in the United States with SK Group’s battery unit SK On. Hyundai Motor Group’s three major affiliates — Hyundai Motor Co., Kia Corp. and Hyundai Mobis Co. — approved the investment [...]
SEOUL, April 23 (Korea Bizwire) — SK On, a global battery manufacturer, has won a bronze award at the 2023 Edison Awards for its NCM9 battery, the first time a battery manufacturer has won the prize. The NCM9 battery is a high-nickel battery with a nickel content of about 90%, which SK On developed in [...]
SEOUL, March 23 (Korea Bizwire) — South Korean battery maker SK On Co. said Thursday it is forming a joint venture with two battery component partners to build a precursor manufacturing facility on the country’s southwest coast. SK On will sign an investment agreement with EcoPro Co. and China’s Green Eco-Manufacture (GEM) on Friday, under [...]
SEOUL, March 9 (Korea Bizwire) – SK On Co. said Thursday it plans to unveil its first prismatic cell at an upcoming battery exhibition next week, along with a set of other latest products, in a move to diversify the portfolio to meet growing demand for a wider range of cell types. The prismatic cell mockup will [...]
SEOUL, March 7 (Korea Bizwire) – The Korean battery industry is making strides in developing lithium iron phosphate (LFP) batteries, with SK On Co. set to unveil a prototype at the Interbattery exhibition later this month and LG Energy Solution Ltd. (LGES) is also expanding its LFP battery product portfolio. SK On will be the [...]
SEOUL, Feb. 15 (Korea Bizwire) — South Korean battery maker SK On said Wednesday it is looking into the suspended production of Ford Motor Co.’s electric pickup truck equipped with its battery. Ford Motor has suspended production and shipment of the all-electric F150 Lightning pickup since early last week to address a potential battery issue, [...]
SEOUL, Feb. 10 (Korea Bizwire) — SK On Co., the battery-making unit under South Korea’s SK Group, is struggling after missing the opportune timing for its initial public offering (IPO), and accumulating operating losses. Investor resistance to the listing of subsidiaries through physical division has become rampant since the listing of LG Energy Solution Ltd., [...]