Ford & SK Form JV to Scale NA Battery Deliveries
Ford and SK Innovation announced have signed an MoU to create a joint venture, to be called BlueOvalSK, to produce approximately 60 GWh annually in traction battery cells and array modules, starting mid-decade, with potential to expand. The creation of the JV is subject to definitive agreements, regulatory approvals and other conditions. Next-gen cells and arrays will be used to power several future Ford battery electric vehicles.
Ford’s global BEV plan calls for at least 240 gigawatt hours (GWh) of battery cell capacity by 2030 – roughly 10 plants’ worth of capacity. Approximately 140 GWh will be required in North America, with the balance dedicated to other key regions, including Europe and China.
SK Innovation is a global energy conglomerate headquartered in Seoul, South Korea. The company has pioneered the development of mid- to large-size EV batteries since 1991 and has expanded its battery operations globally since 2010. SK already operates a battery plant in Commerce, Georgia, USA – serving two global OEMs – and is expanding its production capacity in the European Union and China. SK Innovation plans to become one of the world’s top three EV battery suppliers by 2025 with over 125 GWh in global production capacity.