The venture is to be called BlueOvalSK and will start mid-decade, with
a potential for expansion. It will build on Ford’s recently announced
investments to speed up the research and development of battery manufacturing
and technology. This includes an additional solid-state battery startup investment
and a new global battery centre.
Ford expects the yearly demand for energy for its
vehicles to be up to 140 GWh in North America and up to 240 GWh all over the
globe by 2030. It has invested in and is working with various battery suppliers
for securing capacity and scaling delivery for next-generation Ford and Lincoln
battery electric vehicles.
Headquartered in Seoul, South Korea, SK Innovation is a global energy
conglomerate that has introduced the development of mid to large size electric
vehicle batteries since 1991. It already serves two global OEMs with its
battery plant in Commerce, Georgia, USA. The company is expanding its
manufacturing capacity in China and the European Union. SK Innovations aims to
become among the top three electric vehicle battery suppliers in the world by
2025 with a global production capacity of over 125 GWh.
The joint venture’s creation is subject to other conditions,
regulatory approvals, and definitive agreements.
Source - Ford Media