Ford breaks ground at BlueOval City for the production of all-electric trucks and batteries

At CES 2023, SK On exhibits a SF (Super-Fast) battery with the fastest charging speed among commercially available batteries. Applying a special coating technology, it can be charged up to 80% in 18 minutes and can run more than 400 km on a single charge. In recognition of its performance, SF Battery won the CES 2023 Best Innovation Award in the category of Embedded Technologies for the first time in the battery...

5 January 2023

According to SK Innovation's announcement on the 21, SK On has successfully increased a total of KRW 2.8 trillion in paid-in capital. This is the sum of SK Innovation's investment, which is equal to KRW 2 trillion, and Korea Investment Private Equity’s investment of KRW 0.8 trillion. SK Innovation plans to invest KRW 1 trillion within this month and proceed with the remaining amount next year. This is SK...

22 December 2022

Ford and SK On have broken ground at BlueOval SK Battery Park, where their joint venture – BlueOval SK – has invested $5.8 billion to produce advanced batteries for future Ford and Lincoln electric vehicles, slated to start production in 2025, creating 5,000 new jobs in Kentucky. Construction is on schedule at the two massive battery manufacturing facilities capable of collectively producing more than 80 gigawatt...

5 December 2022

Hyundai signed a memorandum of understanding with SK On to secure a supply of EV batteries in North America. Under the MOU, both parties will cooperate to provide SK On batteries to the Group’s plants in the U.S. after 2025 for EV production. Further details on the cooperation will be revealed at a later stage. Hyundai Motor Group is accelerating electrification efforts with the global target to sell 3.23 million...

29 November 2022

SK Innovation and its subsidiaries announced that 5 of the company's products have won 8 Innovation Award Honorees and two Best of Innovation at CES 2023 Innovation Awards. This is a remarkable achievement after four years since SK’s first CES participation in 2019. Among SK Innovation's products that won at CES 2023 Innovation Awards, SK On's SF battery (Super Fast Battery), officially named E556, was selected as...

17 November 2022

SK On announced today it signed a lithium hydroxide supply deal with Chile’s SQM, a move that will further strengthen the company’s supply chain for critical battery materials in coping with the U.S. Inflation Reduction Act (IRA) following its recent deals with Australian lithium developers. Under the deal, SK On shall purchase up to 57,000 tons of high-quality lithium hydroxide for five years starting in 2023. This...

7 November 2022

BlueOval SK, a joint venture between SK On and global automaker Ford Motor Company for manufacturing electric vehicle (EV) batteries, is poised to move to its next phase. The two companies secured a key bridgehead to preoccupy the electric vehicle market by smoothly completing the establishment of a joint venture. According to SK On, both companies have recently completed internal and external reviews as they...

15 July 2022

Ford U.S. sales outperformed the industry – market share increases 3.5 percent over last year to 13.5 percent, despite the continued global industry semiconductor chip shortage. Gains came from battery electric vehicles, F-Series and Ford SUVs. Nearly 50% of retail sales were comprised of previously placed orders compared to approximately 9 percent at this time last year. Ford battery electric vehicle sales totaled...

3 June 2022

SK On and Ford Motor have signed a MoU for establishing a JV for battery production in Turkey working together with Koç Holding. Founded in 1926, Turkey's Koç Holding is the only Turkish company to be listed on the Fortune Global 500, representing this country. In 1959, they established Ford Otosan together with Ford and are producing commercial vehicles (for business, such as vans, etc.) in the Cocaeli area, with...

14 March 2022

Consisting of twin battery plants that will power a new lineup of Ford and Lincoln EVs, Ford's BlueOval SK Battery Park will be built in Glendale, Kentucky. The contractors for the job are Barton Malow and Gray. The project costs USD 5.8 billion and will span over 1500 acres in Glendale, Kentucky. Upon completion and full capacity launch, the two plants on the site will produce 86 GWh per year, according to Ford...

22 February 2022

SK IE Technology (SKIET), the material business subsidiary of SK Innovation announced that it held an opening ceremony for the lithium-ion battery separator plant in Silesia Province, Poland, the company's first European production base. SKIET's first plant in Poland has completed after about 21 months of construction. It is expected to kick off commercial operation in the fourth quarter of this year. It makes SKIET...

8 October 2021

SK Innovation today launched its battery division split off - the SK On as a wholly-owned subsidiary, meaning it is 100% owned by SK Innovation. In a split-off, the parent company holds all the shares. In a spinoff, shares are distributed to shareholders of the parent. "Today marks an important step for SK Innovation to consummate a structural form of a portfolio innovation that we have sought," said Kim Jun, CEO of...

1 October 2021