Ford and Sk Innovation form a battery JV
Automotive giant Ford Motor Co. and South Korean battery maker SK Innovation recently announced they would form a battery joint venture in North America to support the American automaker’s electric vehicle production. The companies have already signed a memorandum of understanding for the formation of the venture which should be called BlueOvalSK, according to the Reuters agency.
The plan would be for the partnership to produce some 60 gigawatt-hours annually in traction battery cells and array modules, starting mid-decade, with potential to expand according to the companies. No specific location has been mentionned yet. Nonetheless, Ford’s global EV plan calls for at least 240 GWh of battery cell capacity by 2030, equal to about 10 plants. Some 140 GWh of that will be needed in North America with the balance in other regions, including Europe and China.