BlueOval SK rolls out 1st EV battery product
BlueOval SK, a 50:50 joint venture between Korean battery maker SK On and American automaker Ford, has finally begun commercial production of electric vehicle batteries at its first Kentucky plant amid the prolonged stagnation of the EV market growth.
According to BlueOval SK on Tuesday, its first-ever battery to be delivered to Ford rolled off the assembly line at the Kentucky 1 factory in Glendale. The batteries from this production will power the American automaker's electric pickup truck, the F-150 Lightning.
'We are proud to build batteries at our Kentucky 1 facility that will power next-generation electric vehicles,' BlueOval SK CEO Michael Adams said. 'The start of production is a significant milestone that strengthens our position in the electric vehicle battery market.'
BlueOval SK added that the Kentucky 1 plant will also produce batteries for Ford's current E-Transit electric van.
SK On and Ford joined hands to set up BlueOval SK in 2022 as they announced a $11.4 billion investment to build three battery production facilities: two in Glendale, Kentucky and one in Stanton, Tennessee.
'Today, Kentucky marks a historic milestone four years in the making as production officially begins at two of the largest battery plants in the world, set to deliver EV batteries that will transform the automotive industry and the future of our commonwealth,' said Kentucky Governor Andrew Beshear.
'This remains the single largest investment in the history of our state, and it sparked a surge of new investment and job announcements that placed Kentucky at the center of EV-related innovation. I am grateful to Ford and SK On leaders for believing in Kentucky and our workforce.'
The joint venture's first commercial production has been delayed due to the EV market's slower-than-anticipated growth rate over the last few years. Ford announced earlier this month that it will delay the launch of two new EVs — next-generation models of the F-150 Lightning and E-Transit — to 2028 but instead shift focus to smaller, more affordable cars to launch a midsize, four-door electric pickup in 2027.
With the stalling EV demand, Adams, CEO of BlueOval SK, said in an interview with Bloomberg that both SK On and Ford are looking for opportunities for new business and securing new clients is 'fairly high.' There have been rumors that BlueOval SK was nearing a contract to sell batteries to Nissan, but no confirmations were made.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
5 hours ago
- Korea Herald
Lee to meet Bill Gates to discuss global health issues, collaboration
President Lee Jae Myung plans to meet Bill Gates, chair of the Gates Foundation and Microsoft Corp. co-founder, in Seoul on Thursday, the presidential office said Wednesday. Gates, who has spearheaded initiatives on climate change, poverty reduction and global health through the foundation, is visiting South Korea to reportedly explore cooperation with Korean pharmaceutical companies on a vaccine supply project for low-income countries. During the meeting at the presidential office, the two are expected to discuss global health issues and potential collaboration in the sector, according to officials. (Yonhap)
Korea Herald
7 hours ago
- Korea Herald
US senator says Congress to review shipbuilding reforms after Lee-Trump summit
A US senator said Wednesday that Congress will review what legislative reforms may be needed to facilitate shipbuilding cooperation with South Korea, based on the outcome of next week's summit between President Lee Jae Myung and US President Donald Trump. Sen. Andy Kim (D-NJ) made the remarks during a press availability in Seoul, days before Lee and Trump are set to hold their first summit in Washington on Monday (US time), following a recent tariff agreement between the two countries. "There might be some reforms that can make it more efficient, speed the process, and we'll look at that appropriately," Kim said when asked about US shipbuilding regulations prohibiting foreign involvement. "I cannot move forward until I have a sense of what comes out from the summit next week. So we'll see how that's structured and how the investment is laid out, and then we'll move with the appropriate level of urgency," he said. With the tariff deal, South Korea has proposed large-scale shipbuilding cooperation projects, dubbed "Make American Shipbuilding Great Again (MASGA)," to held restore the sluggish US shipbuilding industry, including building new shipyards in the United States and partnerships on maintenance, repair and overhaul (MRO) projects. However, concerns have been raised about how quickly the shipbuilding projects can move forward, as US laws, such as the Jones Act and the Byrnes-Tollefson Amendment, remain as a legal barrier restricting foreign operations in commercial shipping and military shipbuilding. "If there are proposals needed for reforms that make sense to both of our countries, I think it could move fast," Kim said. Kim also addressed the need for the US to be clear about its goals in shipbuilding cooperation with South Korea, such as the number and type of ships it needs to build, saying that any legislative support would start from there. As a New Jersey resident who lives about 15 minutes away from the Philly Shipyard, run by South Korea's Hanwha Ocean, Kim described South Korea as the "best partner" in boosting American shipbuilding capabilities. "We are supportive of President Trump's efforts to continue to increase shipbuilding capabilities, and we're prepared to provide whatever type of legislation as well as resources behind it to be able to make that successful," he said. Regarding the Trump administration's push for "modernizing the alliance," which potentially calls for reorienting the role of US troops in Korea to deter China, Kim said related bilateral discussions should take place in a way that ensures US commitment to deterring North Korean threats, as well as addressing shared regional challenges. "I want to make sure that ... in the Indo-Pacific, (we) are able to address the array of different challenges and threats that we face. We can do that in a way that still protects extended deterrence, protects our interests here on the Korean Peninsula," Kim said. "Any changes that we would see in significant ways to troop presence, we would want to make sure that Congress has a role in oversight," he added. Kim, the first Korean American elected to the Senate, visited South Korea this week with Sen. Tammy Duckworth (D-Il) for meetings with government officials and business leaders. They also met with President Lee. Kim said Lee's decision to stop in Japan before going to Washington for the summit with Trump was a "brilliant move." "I can think of few opportunities that are more impactful than recommitment to the trilateral process between the United States, South Korea and Japan," he said. (Yonhap)
Korea Herald
10 hours ago
- Korea Herald
HD KSOE acquires Doosan Vina at W290b
Shipbuilding giant looks to bolster production of independent tanks to maximize profitability of eco-friendly vessels HD Korea Shipbuilding & Offshore Engineering, an intermediary holding firm of Korean shipbuilding conglomerate HD Hyundai, said Wednesday that it has signed a deal with Doosan Enerbility to acquire the latter's Vietnamese company, Doosan Vina, in order to expand its lineup of eco-friendly vessels. According to HD KSOE, it agreed to buy out Doosan Enerbility's 100 percent stake in Doosan Vina at a price of 290 billion won ($207 million). Doosan Enerbility said it will utilize the 290 billion won it secures from the deal to expand facilities in core businesses, such as small modular reactors and gas turbines, which are seeing rapid growth in demand amid the increasing need for energy and carbon reduction across the globe. Doosan Vina, which was established in 2006 in the Dung Quat Economic Zone of Quang Ngai Province, Central Vietnam, has manufactured boilers for thermal power plants, port cranes and modules for liquefied natural gas plants. HD KSOE plans to carry on the existing business of Doosan Vina while utilizing the newly acquired site as a regional foothold to build independent tanks and port cranes for the Asian region. An independent tank is a key component in eco-friendly vessels such as LNG-fueled vessels, liquefied petroleum gas carriers, ammonia carriers and liquefied carbon dioxide carriers. 'This deal was able to be finalized as it fulfills the interests of both companies, backed by the government's cooperation and support,' said an HD KSOE official. 'As we have expanded our production capacity of eco-friendly equipment, we plan to maximize profitability by bolstering our lineup of globally competitive eco-friendly vessels."
