Ford, SK On dissolving BlueOval SK battery joint venture [Yahoo! Finance]
Ford Motor Company (F)
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Source: Yahoo! Finance
Ford Motor Co. and battery maker SK On have reached a mutual agreement to dissolve their electric vehicle battery joint venture BlueOval SK , SK Americas spokesperson Joe Guy Collier confirmed in an email to WardsAuto. The joint venture was established in September 2021 as part of a planned $11.4 billion investment by the two companies to build three large-scale manufacturing plants — one in Tennessee and two in Kentucky — to produce advanced batteries for Ford's future EVs. Under the terms of the dissolution agreement, each company will independently own and operate the joint venture's former production facilities, Collier said. A Ford subsidiary will take full ownership of the two battery plants in Kentucky, and SK On will assume full ownership and operate the battery plant in Tennessee. Although SK On will own and operate the battery manufacturing facility in Tennessee, the company will maintain its strategic partnership with Ford and continue to supply EV batteries for its
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