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SK On Sets Record in Solid-state Battery Tech with High-conductivity Electrolyte

SEOUL, Sept. 1 (Korea Bizwire) — South Korean battery maker SK On Co. has achieved a significant milestone by collaboratively developing an advanced oxide-based solid-state electrolyte (SSE) boasting the world’s highest level of lithium-ion conductivity. Lithium-ion conductivity directly impacts the speed of lithium-ion movement within the electrolyte, correlating to battery output and rapid charging capability. [...]

SK On to Invest in C$1.2 bln Cathode Plant in Canada

SEOUL, Aug. 18 (Korea Bizwire) — South Korean battery maker SK On Co. said Friday it will invest in a C$1.2 billion (US$886 million) Canadian cathode plant along with Ford Motor Co. and Korean cathode material company EcoPro BM to secure a stable supply of the key battery material in North America. SK On, EcoPro [...]

SK On to Spend 1.5 tln Won to Expand Battery Plant in S. Korea

SEOUL, Aug. 16 (Korea Bizwire) — SK On Co. said Wednesday it is spending 1.5 trillion won (US$1.12 billion) to add a new manufacturing facility in South Korea in its biggest domestic investment as it pushes for an expansion. The envisioned third factory will be established on an area of 44,125 square meters in an [...]

S. Korean Battery Makers Expected to Report Upbeat Q2 Earnings on Solid Demand, IRA

SEOUL, June 25 (Korea Bizwire) — Major South Korean battery makers are tipped to post strong quarterly profits in the second quarter, continuing the robust growth on the back of solid demand in North America and tax benefits from a new U.S. law on green energy, industry data showed Sunday. Top player LG Energy Solution [...]

SK On-Ford U.S. Venture to Receive US$9.2 bln from U.S. Gov’t Loan Program

SEOUL, June 22 (Korea Bizwire) — SK On Co. said Thursday its joint venture with Ford Motor Co. has obtained preliminary approval for a loan of up to US$9.2 billion from the U.S. government, funding that will help them forge ahead with their megaproject to build three battery plants in America. BlueOval SK, the SK [...]

SK On Raises US$944 mln in Pre-IPO Funding

SEOUL, May 24 (Korea Bizwire) — South Korean battery maker SK On Co. has secured US$944 million from investors in a round of funding in preparation for an initial public offering (IPO), its parent company said Wednesday. The board of SK Innovation Co. approved the equity investment agreement it and SK On signed with a [...]

SK On Expresses Concerns Over Ford’s Independent Raw Material Sourcing in Joint Venture

SEOUL, May 23 (Korea Bizwire) —In a recent development, SK On, the Seoul-based battery manufacturer currently engaged in a joint venture with Ford Motor Company in the United States, has expressed unease regarding Ford’s announcement regarding the procurement of its own raw materials. SK On denies having engaged in any discussions with Ford regarding the [...]

SK On to Develop Key EV Battery Material with U.S. Graphite Company

SEOUL, May 3 (Korea Bizwire) — South Korean battery maker SK On Co. said Wednesday it has signed an agreement with a U.S. graphite company to develop battery-grade anode materials in an effort to bolster the sourcing of raw materials. The joint development agreement (JDA), inked with Westwater Resources Inc., calls for the two companies [...]

Hyundai, SK On to Build 6.5 tln-won EV Battery Plant in U.S.

SEOUL, April 25 (Korea Bizwire) — Hyundai Motor Group said Tuesday it will build a 6.5 trillion-won (US$4.9 billion) electric vehicle (EV) battery plant in the United States with SK Group’s battery unit SK On. Hyundai Motor Group’s three major affiliates — Hyundai Motor Co., Kia Corp. and Hyundai Mobis Co. — approved the investment [...]

SK On Wins Bronze at 2023 Edison Awards for Revolutionary High-Nickel NCM9 Battery

SEOUL, April 23 (Korea Bizwire) — SK On, a global battery manufacturer, has won a bronze award at the 2023 Edison Awards for its NCM9 battery, the first time a battery manufacturer has won the prize. The NCM9 battery is a high-nickel battery with a nickel content of about 90%, which SK On developed in [...]