SEOUL/TOKYO -- SK Group and Ford Motor will build new battery factories in the U.S., the companies announced Tuesday, as the South Korean conglomerate seeks to make up ground with compatriot and competitor LG Chem and its partner General Motors in a crucial market.
Battery maker SK Innovation will work with Ford to open production sites in the states of Kentucky and Tennessee at a total cost of $11.4 billion, with SK investing $4.45 billion. The South Korean company is also preparing to begin mass production at a Georgia site next year.
