SK Innovation, Ford to invest $11.4 billion in U.S. battery market via BlueOvalSK
상태바
SK Innovation, Ford to invest $11.4 billion in U.S. battery market via BlueOvalSK
  • Kevin Lee 기자
  • 승인 2021.10.04 08:50
  • 댓글 0
이 기사를 공유합니다

To invest in their joint venture factories in Tennessee and Kentucky

A battery production company established by Ford of the U.S. and SK Innovation of South Korea will build the largest battery production plant ever in the U.S.

SK Innovation and Ford announced the locations of the battery production sites of BlueOvalSK, the joint venture of two companies at Tennessee and Kentucky and their large-scale investment plan on Sept. 27.

SK Innovation’s EV battery plant that is under construction in Georgia, the U.S.
SK Innovation’s EV battery plant that is under construction in Georgia, the U.S.

SK Innovation and Ford attended two announcement events on Sept. 28 in Stanton, Tennessee and Glendale, Kentucky, where BlueOvalSK will be located.

Ford and SK Innovation plan to invest a total of $11.4 billion in constructing battery plants and EV assembly plants in the two areas. This is the largest investment announcement by Ford in its 118 years of history, and the largest investment for battery plants in the U.S. so far.

Right after the Board of Directors’ meeting on Sept. 27, SK Innovation revealed its plan to invest up to $6.4 billion in the BlueOvalSK battery plant by 2027 in the form of providing the capital to its US battery corporation SK Battery America (SKBA).

SK Innovation announced that it would invest $4.45 billion in the construction these BlueOvalSK’s plants. This amount is equivalent to its 50% stake in the joint venture. The decision was made after a meeting held by the company’s Board of Directors on September 27th (KST).


댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.
주요기사