South Korea’s POSCO Future M has signed a contract to supply lithium iron phosphate (LFP) cathode materials to SK On. The contract runs from January 2027 through December 2029 and is valued at approximately KRW 1.074 trillion (JPY 118.1 billion). The parties may extend the supply period by two years through December

South Korea’s SK On has signed a memorandum of understanding (MOU) with US-based next-generation battery manufacturer Factorial Energy for technological and manufacturing collaboration on solid-state batteries. The companies will jointly assess whether and how SK On’s existing lithium-ion battery manufacturing infras

Hyundai SK Battery Manufacturing America (HSBMA), the joint venture between Hyundai Motor Group and SK On, recently began commercial operations at its plant in Bartow County, Georgia, according to local media on July 14.
The initial volume produced at the plant is ultimately being supplied to Hyundai Motor Group Meta

SK On Co., Ltd., a battery manufacturer in South Korea, and EVE Energy Co., Ltd., a Chinese battery manufacturer, announced that they have completed the exchange of shares in their two battery-production joint ventures in China as of June 22, 2026. The two JVs involved are SK On Jiangsu in Yancheng, Jiangsu, and Huiz

On May 25, Ferrari unveiled its all-new electric sports car, the Ferrari Luce. The car uses a fully electric system designed by Ferrari. For the first time, a Ferrari will have four doors and five seats. The launch is scheduled for the second half of 2026.
Ferrari has built all the key parts itself in Maranello, Ital

On May 21, Ford Energy, a new wholly owned subsidiary of Ford Motor Co., announced that it has assumed ownership of the battery production plant in Glendale, Kentucky, following the closing of the BlueOval SK joint-venture disposition agreement. 
The sprawling plant, which successfully ran EV battery production until

On May 21, a subsidiary of South Korean battery manufacturer SK On took full ownership of the battery plant at BlueOval City in Stanton, Tennessee, marking an end to the company’s joint U.S. battery manufacturing venture with Ford Motor Company.
The 4-million-square-foot battery plant located on Ford’s campus is now

Several South Korean media sources reported that SK On Co., Ltd., a South Korean secondary battery manufacturer, unveiled that it had decided to name its battery joint venture with the Hyundai Motor Group “Hyundai SK Battery Manufacturing America (HSBMA).” The joint venture, established by the two companies on a 50:5

SK On Co., Ltd. (SK On) will participate in the InterBattery 2026, which will be held in Seoul Special City from March 11 to 13 to unveil its next-generation battery technologies. The company this time will unveil its Cell-to-Pack (CTP) technologies that heightens energy density and cost competitiveness. Specifically

On March 6, several media sources reported that SK Battery America, a U.S. subsidiary of SK On, has laid off 958 workers at its plant in Commerce, Georgia, reducing its workforce by 37% to approximately 1,600 employees. The plant, which opened in January 2022 at a cost of USD 2.6 billion, had supplied cells for the F

SK On Co., Ltd. (SK On) announced the signing of a long-term lithium procurement agreement with POSCO Group. Under the agreement, SK On will receive up to 25,000 tonnes of lithium from POSCO Argentina, a lithium producer in Argentina, during the 2026-2028 period, sufficient for approximately 400,000 electric vehicles

On February 24, POSCO Group signed an agreement with SK On to supply up to 25,000 tons of lithium concentrate per year from this year through 2028. The volume is sufficient to produce batteries for approximately 400,000 EVs and will be used in SK On’s battery plants in North America and Europe to help meet sourcing r

In December 2025, Ford and SK On, SK Innovation's battery unit, announced that the two companies would be dissolving the BlueOval SK joint-venture formed in 2022. While Ford takes over and retools the BlueOval SK Battery Park in Glendale, Kentucky for LFP battery production for battery energy storage solutions (BESS)

Ford has revealed that the total cost for dissolving its EV battery joint venture with SK On, announced in December 2025, is USD 6 billion, which will be a hit to earnings before tax and interest (EBIT) spread across a few years. The first USD 3 billion write down will take place in 2025 earnings, while the remaining

On January 28, SK Innovation Co. said on its Q4 2025 earnings call that the termination of the battery joint venture with Ford Motor Co. in the U.S. resulted in a KRW 3.7 trillion (USD 2.6 billion) asset loss, as the end of the U.S. EV tax credits reduced its profitability in the quarter despite increased shipments t

SK On Co., Ltd. announced that it has developed a new binder material, PPMA, for silicon anode solid-state batteries in collaboration with Yonsei University of South Korea. PPMA has both electrical conductivity and strong adhesion. It effectively addresses the structural stability issues of conventional silicon anode

South Korea’s SK On Co., Ltd. announced that it successfully developed high-density, single-crystal cathode materials composed of large-sized particles in cooperation with Seoul National University of South Korea. The paper published in Nature Energy, an academic journal, identified technical challenges in synthesizi

Several South Korean media sources reported that SK On Co., Ltd., a battery manufacturing subsidiary of SK Innovation Co., Ltd., will postpone its capital investment in its No.3 Seosan Plant, which is under construction in Seosan-si, Chungcheongnam-do. The company initially advanced the factory construction for the m

On December 11, SK On announced it and its joint venture partner Ford mutually agreed "to restructure their U.S. EV battery manufacturing joint venture, BlueOval SK" as SK On directs its business to focus on growth areas including energy storage systems.
As a result of this restructuring, the BlueOval SK Battery Par

Several South Korean media sources reported that SK On Co., Ltd., a battery manufacturing subsidiary of SK Innovation Co., Ltd., and EVE Energy Co., Ltd., a Chinese battery manufacturer, have agreed to exchange shares in two battery production companies they jointly established. 
-The two companies subject to the sha