On May 21st, in order to support the growing demand for Ford electric vehicles and promote the vertical integration of core electrification capabilities, Ford confirmed that it has signed a memorandum of understanding with South Korean battery manufacturer SK Innovation to form a battery joint venture called BlueOvalSK in the United States, producing battery cells and packs.
BlueOvalSK plans to have a production capacity of about 60 GWh per year by around 2025, with the possibility of capacity expansion. A product development manager at Ford stated that 60 GWh of capacity is enough to meet the needs of about 600,000 electric vehicles.
The company expects its North American annual battery production capacity to reach 140 GWh by 2030, with a global capacity of 240 GWh.
On the day before, Ford officially released its first all-electric pickup truck, the F-150 Lightning. Ford previously announced that it will invest more than $22 billion in electrification by the end of 2025, focusing on developing smart all-electric vehicles. As one of the three electrified models launched by Ford last year, the F-150 Lightning is also a key part of the company’s $22 billion electrification investment.
On Tuesday of this week, U.S. President Biden visited the Ford Motor Company factory and personally test drove the latest Ford model. He announced a $174 billion proposal for electric vehicles, aimed at providing government subsidies for production and resetting the pace of EV development. It is worth noting that it is rare for Biden to test drive a vehicle, and the electric vehicle series launched by Ford, a century-old company, is well-known in the United States, with its electric pickups dominating the U.S. market.
As one of the world’s leading energy groups, South Korea’s SK Innovation’s business covers petroleum, chemical and future energy, and has been continuously improving the value chain required for battery production for the past 50 years, collaborating with well-known automobile manufacturers such as Hyundai, BAIC and Daimler.SK Innovation has shown outstanding performance in battery safety. In 10 years as a battery supplier, there has never been a fire incident related to their batteries.
In 2016, SK Innovation developed the world’s first NCM-811 battery and continued innovating by creating the world’s first NCM-9 battery with a 90% nickel content. This battery will be mass-produced in the United States to power the Ford F-150 Lightning.
The establishment of the BlueOvalSK joint venture is subject to the final agreement and regulatory approval among other factors. In the future, the next generation battery cells and packs produced by the joint venture are expected to be used in more Ford electric vehicle models.
🔗Source：Ford
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.