Ford and SK Innovation's BlueOval SK JV will produce EV batteries in the USA

21 May 2021, 04:45:45

Ford and SK Innovation announced they have signed a memorandum of understanding (MoU) for a joint venture - to be called BlueOvalSK - to manufacture battery cells and arrays in the USA. BlueOvalSK to produce approximately 60 GWh annually with the potential to expand, starting mid-decade. y 2030, Ford expects annual energy demand for its vehicles will be up to 140 GWh annually in North America and up to 240 GWh globally; the company has invested in and is working with a number of battery suppliers to secure capacity and scale delivery for next-generation Ford and Lincoln battery electric vehicles. The BlueOvalSK MoU builds on Ford's recently announced investments to accelerate R&D of battery technology and manufacturing – including a new global battery center of excellence and an additional investment in a solid-state battery startup. The creation of the JV is subject to definitive agreements, regulatory approvals and other conditions. Next-gen cells and arrays will be used to power several future Ford battery electric vehicles. SK Innovation has specialized in the development and commercialization of high-nickel NCM battery technology. The company developed the world’s first NCM-811 battery in 2016 and continued to innovate and to develop the world’s first Nickel 9 battery that will be mass-produced in the USA, powering the 2022 Ford F-150 Lightning.

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