The Group affiliates
The total investment amount for the joint venture is expected to be approximately
Through the joint venture, both parties plan to establish an EV battery cell plant in
The new plant is expected to start manufacturing battery cells in the second half of 2025 with an annual production capacity of 35 GWh, which is sufficient to support the production of 300,000 EVs.
The joint venture further accelerates the Group's electrification efforts and bolsters its position as an EV leader in the U.S. market with a stable battery supply to support the production of highly competitive EV models.
SK On has been a strategic partner for the Group and both have been working together on the production of globally renowned EV models, such as Hyundai IONIQ 5, Kia EV6 and Genesis GV60.
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