[Alpha Biz= Reporter Kim Sangjin] On August 23, SK Innovation announced that its subsidiary, SK On, will provide a total loan amount of 801.5 billion won (approximately $600 million) to its U.S. entity, SK Battery America (SKBA).
The funds will be used to acquire equity in BlueOval SK (BOSK), a battery joint venture established in 2022 between SK On and U.S. automaker Ford.
BlueOval SK is constructing battery plants in Glendale, Kentucky, and Stanton, Tennessee, with a combined capacity of 127 GWh (gigawatt-hours), scheduled to commence operations gradually starting in 2025.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
