Ford EV Rival Hyundai To Work With SK On For Batteries

As it aims to produce two million all-electric vehicles globally each year by 2026, Ford is teaming up with a variety of suppliers from across the globe, though it’s prioritizing its joint-venture partnership with South Korean battery manufacturer SK On, which itself is investing billions in its U.S.-based manufacturing efforts. Construction at the new BlueOval SK Battery Plant, its training center, and BlueOval City are well underway at this point, with EV battery production – and the automaker’s next new EV pickup – set to begin in 2025. However, SK ON will also be working with other automakers – including Hyundai – as they aim to expand EV production moving forward as well, according to the South Korean brand.

As is the case with Ford and SK On’s relationship, Hyundai will also team up with the battery maker to create an electric vehicle battery cell production joint venture in the U.S., a deal that’s already been approved by board members of Hyundai Motor Company, Kia Corporation, and Hyundai Mobis. The automaker previously signed a memorandum of understanding (MOU) with SK On to secure EV batteries for its North American operations last November.

Both companies will invest around $5 billion in this new joint venture, with each holding an even 50 percent stake. As for the manufacturing facility itself, that site will be located in Bartow County, Georgia, which is near Hyundai/Kia’s existing U.S.-based plants. The facility is expected to be up and running by the second half of 2025.

As far as capacity goes, the new Hyundai and SK On plant will tout an annual production capacity of 35 GWh, which is enough output to support the manufacture of 300,000 all-electric vehicles. Those battery packs will be assembled by Hyundai Mobis using cells from the new plant, after which they’ll be shipped to the automaker’s U.S. manufacturing facilities for production of Hyundai, Kia, and Genesis EV models.

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