Anabelle Colaco
14 Dec 2025, 01:28 GMT+10
SEOUL, South Korea: South Korea's SK On said it will unwind its battery partnership with Ford Motor, bringing an early end to a high-profile joint venture intended to support U.S. electric vehicle production.
SK On, a subsidiary of SK Innovation, said both companies agreed that each would independently own and operate the venture's production facilities in the future.
Under the revised structure, a Ford subsidiary will take full ownership of the battery factories in Kentucky, while SK On will assume complete control of the plant in Tennessee.
The companies had jointly committed US$11.4 billion in 2022 to build the U.S. battery plants, which were expected to bolster domestic EV supply chains.
SK Innovation confirmed the terms of the separation in its statement.
Get a daily dose of Austin Globe news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Austin Globe.
More InformationSEOUL, South Korea: South Korea's SK On said it will unwind its battery partnership with Ford Motor, bringing an early end to a high-profile...
WASHINGTON, D.C.: Consumers reaching for healthier snacks will soon find a new option on U.S. shelves – sugar-free Oreos. Mondelez...
NEW YORK, New York - Wall Street saw across-the-board losses on Friday as investors and traders continued to fret about the potential...
MILAN, Italy: Ray-Ban Meta smart glasses are emerging as one of EssilorLuxottica's most promising innovations, giving the world's largest...
SEATTLE, Washington: Amazon said it will commit more than US$35 billion to its India operations by 2030, unveiling one of its largest...
WASHINGTON, D.C.: The Biden-era restrictions on U.S. chip exports to China took a sharp turn this week as President Donald Trump said...
WASHINGTON, D.C.: Twelve former FBI agents who lost their jobs after kneeling during a 2020 racial justice protest in Washington, D.C.,...
WASHINGTON, D.C. A U.S. agency says it has requested more information from Waymo after Texas officials reported that the company's...
(Photo credit: Joe Nicholson-Imagn Images) Dolphins running back De'Von Achane will be ready to play Monday against the host Pittsburgh...
(Photo credit: Denny Simmons / The Tennessean / USA TODAY NETWORK via Imagn Images) LSU has hit its first speed bump due to a better...
Washington DC [US], December 13 (ANI): US forces raided a cargo ship travelling from China to Iran last month, according to the Wall...
(Photo credit: Scott Sewell-Imagn Images) Seton Hall looks like a team reborn. Thanks to an all-new rotation, the Pirates (9-1)...
