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Ford and SK to build $5bn EV battery plant for US supply chain

New bilateral alliance on electric cars born ahead of Biden-Moon summit

A Ford Mustang Mach-E electric vehicle at a launch event in Shanghai on April 13.   © Reuters

NEW YORK/SEOUL -- Ford Motor will form a joint venture with South Korea's SK Innovation to manufacture batteries for electric vehicles in the U.S., the companies said Thursday.

Through the venture, named BlueOvalSK, the two partners will invest about $5.3 billion to build a new battery plant in the U.S.

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