Choi Jae-won, Senior Vice Chairman, Leads SK-China Geely Automobile Cooperation on Electric Vehicle Batteries
Agreement Signed on the 11th for Strategic Business Cooperation
Both Companies Possess Balanced Capabilities in Front and Rear Electric Vehicle Businesses
SK is partnering with China's Zhejiang Geely Holding Group (hereinafter Geely Group) to promote a partnership in the eco-friendly mobility sector, including electric vehicle batteries and automotive electronic components.
SK Inc. announced on the 12th that it signed a 'Framework Agreement for Strategic Business Cooperation' the previous day, outlining this plan. The strategy is to combine SK's business development capabilities with Geely Group's mobility expertise to strengthen global competitiveness in the green business sector.
SK Inc. explained that the global networking of Choi Jae-won, Senior Vice Chairman of SK Group and younger brother of SK Group Chairman Choi Tae-won, played a decisive role in establishing the cooperative relationship between the two companies. Since 2021, Senior Vice Chairman Choi has led the battery affiliate SK On and was recently appointed Senior Vice Chairman of SK Innovation, the parent company of SK On.
Geely Group, established in 1986, is a mobility technology company that owns several automobile brands. As of last year, Geely Group's vehicle sales reached 2.79 million units. Sales of electric vehicles and new energy vehicles surpassed 980,000 units.
Through this agreement, the two companies plan to explore cooperation opportunities in the eco-friendly mobility sector, including electric vehicle batteries. In addition, they plan to build a strategic partnership in various green business areas such as ▲charging infrastructure ▲automotive electronic components ▲eco-friendly energy.
Jang Yong-ho, President of SK Inc., said, "Through this cooperation, the two companies are expected to lead the global electric vehicle market and eco-friendly energy sector, establishing a solid position in the future mobility domain."
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Li Donghui, CEO of Geely Group, stated, "Collaboration with SK is part of efforts to develop the mobility industry sustainably together with global partners. Both companies will maximize their respective strengths to provide better eco-friendly mobility experiences to global consumers."
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