South Korea’s second largest conglomerate is making big bets on American-made EV batteries. SK’s partnerships with automakers to build new battery factories—fueled by federal clean-vehicle credits that encourage domestic production—will help reduce U.S. reliance on China and create a southern battery belt. In April, SK announced plans with Hyundai for a $5 billion plant in Georgia. A joint venture with Ford now under way involves two massive battery facilities together worth $11.4 billion, including one in Kentucky that will be the country’s largest. “The U.S. is showing what can happen when the right conditions converge to support EV growth,” says chairman Chey Tae-won.
A weekly newsletter featuring conversations with the world’s top CEOs, managers, and founders. Join the Leadership Brief.
- L.A. Fires Show Reality of 1.5°C of Warming
- Home Losses From L.A. Fires Hasten ‘An Uninsurable Future’
- The Women Refusing to Participate in Trump’s Economy
- Bad Bunny On Heartbreak and New Album
- How to Dress Warmly for Cold Weather
- We’re Lucky to Have Been Alive in the Age of David Lynch
- The Motivational Trick That Makes You Exercise Harder
- Column: No One Won The War in Gaza
