"SK Ino and Ford to Announce Battery Joint Factory MOU on the 20th"

U.S. President Joe Biden is test-driving Ford's F-150 Lightning electric truck.
[Image source=AP Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Ford Motor Company is set to sign a memorandum of understanding for a joint battery factory investment with SK Innovation on the 20th, according to major foreign media citing sources on the 19th (local time).

The foreign media reported that discussions on the joint venture investment with Ford accelerated after SK Innovation settled its battery dispute with LG Energy Solution.

The U.S. government, which has declared the promotion of the electric vehicle industry, views securing the battery supply chain as a prerequisite.

After SK and LG reached an agreement on the battery dispute under the intervention of the U.S. government, President Joe Biden claimed it as a victory for American workers.

Just a day earlier, President Biden test-drove Ford's F-150 Lightning electric truck, which is being produced using batteries supplied by SK Innovation, emphasizing the importance of the U.S. electric vehicle industry.

President Moon Jae-in is also expected to visit the SK Innovation battery factory construction site near Atlanta, Georgia, during his current visit to the U.S.

Meanwhile, LG Energy is also building battery factories in Ohio and Tennessee together with General Motors (GM).

This content was produced with the assistance of AI translation services.