ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

In Ford battery deal, SK aims to make up ground in U.S. market

South Korean company aims to catch up with rival LG in $11.4bn investment tie-up

A battery pack for a 2020 Ford Explorer Hybrid. The U.S. automaker is looking build electric-powered pickup trucks.   © Reuters

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.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more