Ford EV battery supplier SK Group to spend $22 billion In U.S.
If you remember well, US auto giant Ford announced last year that it was teaming up with an EV battery production company, SK Innovation, to set up a joint venture : BlueOvalSK. Yet, that was only one component of both company’s intention to obtain raw materials and build more batteries in Europe, China, and North America. Consequently, the South Korean Ford EV battery supplier also just announced that it would spend some $22 billion US ($28,150 billion CAD) in the United States to back up these efforts.
The Ford EV battery supplier intends to invest some $22 billion US ($ 28,150 billion CAD) more in semiconductor chips, EV batteries, and biotechnology in America. This brings the total investment including the $7 billion US ($ 8.95 billion CAD) it is already spending on the under-construction BlueOval SK Battery Park – to nearly $30 billion US ($38.39 billion CAD).
With half of the $22 billion US going to semiconductor research and development including a possible next-generation of automotive chips, SK could very well spend another $7 billion US ($ 8,956 billion CDN) on its joint campus with Ford in Kentucky and Tennessee. Add to that some $5 billion US ($ 6.397 billion $) in other green energy businesses such as ultra-fast EV charging, hydrogen, battery materials, recycling, and small modular reactors. At that point, SK’s U.S. workforce should climb from 4,000 to 20,000 workers by 2025.
Photo : SK
“Well, we created tens of thousands of highly paid and highly skilled jobs,” Chey said. “But we believe – our view is the United States is our most important business partner. But one thing we can work together is building a skillful workforce. That would be the crucial for ensuring that America has a type of worker necessary to lead the next generation – the manufacturing economy. So, we will work closely with the state and community colleges to help ensure that workers know what they need to know to lead jobs in our facility. The federal, state, and the local coordination, and the deep investment in job training, would help other companies to find the skillset they need and invest more in – here in U.S. as well.”
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