SK On Concludes U.S. Battery Joint Venture with Ford
The restructuring is expected to cut debt by about 5.4 trillion won and lower annual interest expenses by $180 million, SK On said.
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5 Articles
SK On takes sole control of Tennessee battery plant
Pictured above is a factory of SK On in Tennessee. [Photo courtesy of SK On] South Korea’s SK On announced on May 21 that it has completed the restructuring of its battery joint venture with Ford Motor and converted the Tennessee plant under the partnership into a wholly owned operation. The Seoul-based company said that the former BlueOval SK Tennessee facility has officially been reorganized as SK On Tennessee, placing the battery plant under …
SK On restructures U.S. battery footprint as EV demand weakens
On the Dash: EV supply chain restructuring signals continued volatility in production timing and long-term battery availability. Automaker-supplier realignments could shift cost structures and sourcing strategies across EV programs. Slowing EV demand is already impacting plant utilization, employment, and investment timelines. SK On announced Thursday that its joint venture with Ford, BlueOval SK, has restructured its Tennessee battery plant in…
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