Ford and SK Innovation Plan Battery Joint Venture

Ford and SK Innovation Plan Battery Joint Venture-plan

The US automotive company Ford and Korean battery manufacturers SK Innovation have signed a Memorandum of Understanding, MOU for a joint venture for the production of battery cells for electric cars. The Blueovalsk offered joint ventures should produce about 60 gigawatt hours (GWH) on battery cells annually from the middle of the decade, with extensions may be expected to receive a current message. Because until 2030, Ford assumes that the annual cell needs for its vehicles in North America will be up to 140 GWh and up to 240 GWh worldwide. Ford has already invested in a number of battery suppliers and works with them to secure capacities and scales the production of electric cars of the Brands Ford and Lincoln.

The Blueovalsk-MOU builds on the recently announced investments of Ford to accelerate the research and development of battery technologies and their production – including a new global battery center and an additional investment in a solid-state battery start-up. “This letter of intent is only the beginning. It is an important part of our plan to integrate key functions of future technologies comprehensive, “says Jim Farley, President and CEO of Ford. “We take our future in the hand”.

“We look forward to working with Ford, America’s leading and iconic automaker. Ford is today one of the most active actors in the electrification of vehicles. We are proud to open this new chapter in their long history, “says Kim Jun, CEO and President of SK Innovation. “Our JV with Ford will play a crucial role in the design of the value chain of electric vehicles in the United States, a main objective of the current US government.”

The founding of the joint venture is subject to definitive agreements, regulatory approvals and other conditions. The next-generation battery cells and packages developed by him should be used to drive multiple future Ford electric cars.

“Global car manufacturers have praised the E-car batteries of SK innovation for their safety, high capacity and long life,” says Jee Dong-Seob, Head of the Battery Business of SK Innovation. “SK Innovation will supply the batteries for the fully electric version of Ford’s legendary and best-selling F-150 pickup. We are pleased to support the electrification of a vehicle that is the best of the American automotive industry.”SK Innovation plans to become one of the three worldwide leading suppliers of electricity battles with more than 125 GWh of global production capacity by 2025.

SK Innovation has specialized in the development and marketing of the NCM battery technology with a high nickel content. The company developed the world’s first NCM-811 battery in 2016 and continued the innovation and development of the world’s first nickel-9 battery, which is manufactured in mass production in the US and drives the Ford F-150 Lightning.

In order to support his longer-term battery plans, Ford is currently investing massively in the research and development of batteries. Last month, Ford announced about a new global battery center called Ford Ion Park. There is a cross-functional team of 150 experts for development, research, production, planning, purchasing, quality and financing of battery technologies. In addition, at the end of next year, a $ 185 million dollar expensive collaborative learning laboratory in the southeast of Michigans is opened, which is dedicated to the development, testing and construction of vehicle battery cells and cell packages. At the beginning of this month, Ford also announced that together with BMW, it will increase its investments in Solid Power, a manufacturer of solid-state batteries for electric cars.

Related articles

Please follow and like us:

1 thought on “Ford and SK Innovation Plan Battery Joint Venture”

  1. Question: Why another press release of Ford?

    It is only “a letter of intent“Ford allegedly wants to do this and that, but where they did the actions?

    As long as Ford basically only “empty straw is drenting”, say only the PR department busy, as long as you can not take Ford in terms of e-mobility seriously.

    My suspicion continues to strengthen that Ford “plays on time” and hopes for Trump’s re-election 2025.

    Reply

Leave a Comment