Ford And SK On Are Ending Their US Battery Joint Venture
Ford ends EV battery joint venture with SK On, reshaping US electric vehicle production.
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Ford And SK On Are Ending Their US Battery Joint Venture Ford and SK On End $11B EV Battery Partnership Ford and South Korean battery maker SK On are dissolving their $11.4 billion joint venture in the U.S., a surprising shift in the electric vehicle (EV) industry. Four years ago, the partnership aimed to build cutting-edge battery factories in Tennessee and Kentucky to power the next generation of Ford’s F-Series electric trucks. While the factories remain operational, the joint venture that brought them to life will no longer exist. Credit: Ford Division of Assets Marks a New Chapter Under the new agreement, Ford will assume full ownership and management of the twin battery plants in Kentucky. Meanwhile, SK On will continue operating the factory at the massive BlueOval SK campus in Tennessee. The two companies will maintain a strategic partnership centered on the Tennessee facility, ensuring some continuity despite the split. Why the Joint Venture Is Ending The decision reflects broader challenges in the EV market. Although EV sales have grown …