SK On takes full ownership of Tennessee battery plant as Ford joint venture dissolves
By
@tennesseelookout.com
5d ago· 3 min readenNews
90/100
Golden Brown
Bagelometer↗
Hand-rolled, kettle-boiled, baked to perfection. Worth every minute at the bakery.
Score90TypenewsSentimentneutral
Summary
SK On, a South Korean battery manufacturer, has taken full ownership of the battery plant at BlueOval City in Stanton, Tennessee, ending its joint venture with Ford Motor Company. The 4-million-square-foot facility is now owned by the newly formed SK On Tennessee, while a Ford subsidiary took full ownership of two Kentucky battery plants. The companies will maintain a strategic partnership, with SK On Tennessee continuing to supply batteries for Ford's future electric vehicles.
Key quotes
· 3 pulledThe 4-million-square-foot West Tennessee battery plant located on Ford's campus is now owned and operated by the newly formed SK On Tennessee.
A Ford subsidiary took full ownership of two Kentucky battery plants in the split.
The new company will maintain a 'strategic partnership' with Ford and 'looks forward to supplying batteries for its future electric vehicles.'
A subsidiary of South Korean battery manufacturer SK On took full ownership of the battery plant at BlueOval City in Stanton Thursday.