The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Homeless women struggle to find place to spend night

  • 3

    More than dozen chaebol scions indicted on alleged drug use

  • 5

    Heavy snow hits Seoul, surrounding areas

  • 7

    Shunsuke Michieda overwhelmed by Korean fans' support for his coming-of-age film

  • 9

    Life prisoner sentenced to death for beating inmate to death

  • 11

    'I was a stock investment addict': psychiatrist seeks to help addicted people through his book

  • 13

    Jang Keun-suk steps out of his comfort zone with 'The Bait'

  • 15

    Korea's childbirths hit record low in Nov.

  • 17

    Gov't to double subsidies for vulnerable households as energy bills soar

  • 19

    TXT brings together 'pansori' and fairy tale in new song 'Sugar Rush Ride'

  • 2

    Koreans stunned by spike in heating costs

  • 4

    People attempt to cut surging heating costs with creative solutions

  • 6

    Netflix series 'The Glory' draws focus to real school bullying

  • 8

    Inflation weighs on households

  • 10

    Kim Hyun-joo says humanity is at heart of action film 'Jung_E'

  • 12

    BLACKPINK sets 6 more Guinness records

  • 14

    INTERVIEWPartnerships with Korean companies help Delta Air Lines' post-pandemic recovery

  • 16

    PHOTOSAnother day of heavy snowfall in Korea

  • 18

    Korea's GDP shrinks 0.4% in Q4, 1st contraction in 10 quarters

  • 20

    S. Korea to increase joint air defense exercises following N. Korean drone incursions

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
Sat, January 28, 2023 | 15:46
Companies
SK, Ford break ground for US' biggest EV battery plant
Posted : 2022-12-06 15:39
Updated : 2022-12-06 18:07
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
SK Group Executive Vice Chairman Chey Jae-won delivers a congratulatory speech at the groundbreaking ceremony for BlueOval SK Battery Park in Glendale, Kentucky, Monday (local time). Courtesy of SK On
SK Group Executive Vice Chairman Chey Jae-won delivers a congratulatory speech at the groundbreaking ceremony for BlueOval SK Battery Park in Glendale, Kentucky, Monday (local time). Courtesy of SK On

By Park Jae-hyuk

BlueOval SK, the joint venture between SK On and Ford Motor, broke ground for the America's largest electric vehicle (EV) battery plant on a 6.28 million-square-meter site in Glendale, Kentucky, Monday (local time).

With the new factory, SK On aims to become the world's third-largest battery supplier by 2025.

"Right here in Kentucky, Ford and SK are joining forces to lead the future of the EV industry," SK Group Executive Vice Chairman Chey Jae-won said at the groundbreaking ceremony. "We will be manufacturing the safest and the most reliable batteries in the world. Over the next two years, BlueOval SK will build the biggest and most advanced plants for EV batteries, and Kentucky will become a vital center for the future of clean mobility."

Ford EV Industrialization Vice President Lisa Drake said that Ford's roots run deep in Kentucky, and BlueOval SK is going to help Ford to lead the EV revolution, bringing thousands of high-tech jobs to the Bluegrass State.

SK Group Executive Vice Chairman Chey Jae-won delivers a congratulatory speech at the groundbreaking ceremony for BlueOval SK Battery Park in Glendale, Kentucky, Monday (local time). Courtesy of SK On
SK Group Executive Vice Chairman Chey Jae-won, left, and Kentucky Governor Andy Beshear sign their names on a beam during the groundbreaking ceremony for BlueOval SK Battery Park in Glendale, Kentucky, Monday (local time). Courtesy of SK On

The ceremony was also attended by SK On President Jee Dong-seob, BlueOval SK CEO David Hahm, Ford Workforce Development Director Liliana Ramirez and Kentucky Governor Andy Beshear. Some 400 state, community and business leaders, as well as residents, also gathered to celebrate the official commencement of construction on the EV battery manufacturing complex.

"BlueOval SK Battery Park will be at the core of the electrification of the North American auto market," Jee said. "We expect SK On and Ford's leadership in the global electric vehicle market to be solidified through BlueOval SK."

During a press conference prior to the ceremony, the SK On president expressed his confidence in the company's potential to become the world's third-largest battery supplier, once it completes its investments for expansion in the U.S. in 2025.

SK On is currently the world's fifth-largest battery maker with a 6.2 percent market share. It aims to become the global No. 1 battery firm by 2030, by securing a production capacity of 500 gigawatt-hours.

Jee also said that SK On will be among the beneficiaries of the U.S. Inflation Reduction Act, as the company is prepared for the law which refuses tax benefits for purchases of EVs, unless all of their battery components are manufactured or assembled in North America and their critical minerals are sourced from the U.S. or countries that have free trade agreements with the U.S.


Emailpjh@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
Top 10 Stories
1People attempt to cut surging heating costs with creative solutions People attempt to cut surging heating costs with creative solutions
2Seoul to work with Hanoi to pursue peace on Korean peninsula Seoul to work with Hanoi to pursue peace on Korean peninsula
3Cabinet ministries turn deaf ear to watchdog's advice on sexual minorities Cabinet ministries turn deaf ear to watchdog's advice on sexual minorities
4More Korean manufacturers enjoy Georgia's hospitality More Korean manufacturers enjoy Georgia's hospitality
5Superintendent of Seoul Education Office gets suspended jail term Superintendent of Seoul Education Office gets suspended jail term
6SK E&S retains gov't support for Barossa gas project in Australia SK E&S retains gov't support for Barossa gas project in Australia
7KT&G aims to become global top-tier company KT&G aims to become global top-tier company
8Indonesia celebrates 50th anniversary of diplomatic ties with Korea via virtual event Indonesia celebrates 50th anniversary of diplomatic ties with Korea via virtual event
9LGES to capitalize on US IRA, Tesla partnership to continue record earnings LGES to capitalize on US IRA, Tesla partnership to continue record earnings
10Middle East 'sales diplomacy' picks up speed Middle East 'sales diplomacy' picks up speed
Top 5 Entertainment News
1Shunsuke Michieda overwhelmed by Korean fans' support for his coming-of-age film Shunsuke Michieda overwhelmed by Korean fans' support for his coming-of-age film
2Kim Hyun-joo says humanity is at heart of action film 'Jung_E' Kim Hyun-joo says humanity is at heart of action film 'Jung_E'
3BLACKPINK sets 6 more Guinness records BLACKPINK sets 6 more Guinness records
4Jang Keun-suk steps out of his comfort zone with 'The Bait' Jang Keun-suk steps out of his comfort zone with 'The Bait'
5TXT brings together 'pansori' and fairy tale in new song 'Sugar Rush Ride' TXT brings together 'pansori' and fairy tale in new song 'Sugar Rush Ride'
DARKROOM
  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

  • World Cup 2022 France vs Morocco

    World Cup 2022 France vs Morocco

wooribank
CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group