Choia Jaewon, Chief Vice Chairman of SK Group, stated on the 10th (local time) that “considerable progress has been made in the development of cylindrical batteries.”
Additionally, while it is difficult to predict the timing for the listing of SK On due to internal and external conditions, he mentioned that they will expedite the process once a viable time arises.
During a media briefing at CES 2024 in Las Vegas, Cho stated, “Since specifications required differ for each customer, we are developing three battery form factors (pouch, prismatic, and cylindrical) to meet those needs.”
He further clarified, “The development of prismatic batteries has been completed, and after considerable deliberation, we have also developed cylindrical batteries (to a significant extent). We plan to align production timing with our customers’ needs.”
Regarding the outlook for SK On’s fourth-quarter profitability, he remarked, “The automotive market itself is not very favorable, so I am uncertain whether we can achieve the desired results. However, we are striving for our best efforts,” adding, “We are trying to seize this opportunity to solidify our foundation.”
On the stock listing plans for SK On, he prefaced his comments by saying, “We need to observe the financial market and prepare ourselves, so it is not easy to predict at this time,” but confirmed, “Once a suitable time arises, we will act swiftly.”
When asked about his impressions of the CES venue, he noted, “I primarily observed technologies related to automobiles and batteries, and it seems there are significant changes happening. I felt that the industry is transforming rapidly.”
Cho visited the CES venue for the second day, engaging in various schedules. In the morning, he toured major global companies’ booths, and in the afternoon, he attended business meetings. Over the two days, he walked more than 10,000 steps in the morning while visiting booths and had simple lunches with packed meals and sandwiches during his relay meetings in the afternoon.
On the first day of the event, the first place he visited was the booth of the Israeli autonomous driving sensor company, ‘Mobileye.’ Mobileye is known for developing the world’s first advanced driver-assistance system (ADAS) and was acquired by Intel for 18 trillion won, gaining attention for its innovative technologies. They also gained recognition for designing Tesla’s early version autopilot chip.
During his visit there, he had a chance encounter with Hyundai Motor Group Chairman Euisun Chung and exchanged warm greetings. The meeting with Chairman Chung took place twice that day, with Chung visiting SK Group’s booth ‘SK Wonderland,’ where Cho personally welcomed him. Cho introduced the ‘Net Zero’ initiative that SK Group is pursuing and expressed the desire to expand cooperation between the two companies.
In addition, Cho visited various companies, including American heavy machinery manufacturer ‘John Deere,’ Hyundai Motors, Doosan, LG, Panasonic, and Samsung, to explore the latest mobility and eco-friendly technologies utilizing artificial intelligence (AI). He directly experienced John Deere’s electric tractor and LG’s connected concept car, and showed considerable interest in mobility technologies by inquiring about the performance of hydrogen and electric vehicles from Hyundai.
Lee Sang-jin daedusj@autodiary.kr