SK On and Ford Motor are spending KRW8 trillion (US$6.35 billion) on equipment for EV battery factories they are jointly setting up in the US states of Kentucky and Tennessee, according to South Korean media ET News.
BlueOval SK, a joint venture formed by SK On and Ford, is reportedly to start procuring equipment for the new factories, said ET News. The equipment needed includes formation, mixing, electrode processing, charging, and testing.
The Tennessee factory covers an area of 15.53 million sqaure mwters and has recently begun construction. It is scheduled to start producing Ford's electric F Series pickup truck and EV batteries in 2025, the report said. The factory has a planned annual production capacity of 43GWh.
There will be two factories in Kentucky, each having a planned annual production capacity of 43GWh, the report said. They are expected to start production between 2025-2026.