Hyundai Motor Group and SK On have joined hands to target the US electric vehicle market and secure a leading position in the future electric vehicle sector.
On the 29th, at the SK Group headquarters (SK Seorin Building) in Jongno-gu, Seoul, Hyundai Motor Group’s Vice President of Future Growth Planning, Kim Heung-soo, and SK On’s General Manager of Management Support, Choi Young-chan, attended the signing of a Memorandum of Understanding (MOU) for collaboration on supplying electric vehicle batteries in North America.
Based on this strategic partnership, both parties plan to pursue supplying SK On batteries to Hyundai Motor Group’s EV factories in the U.S. after 2025, with specific details regarding the supply volume, cooperation method, and supply timeline to be discussed later.
Vice President Kim Heung-soo of the Future Growth Planning Division at Hyundai Motor Group stated, “This North American battery supply agreement will accelerate our penetration into the electric vehicle market,” and added, “We hope to secure market leadership based on stable supply through our collaboration.”
General Manager Choi Young-chan of SK On expressed, “The collaboration between our two companies is expected to yield significant synergy,” stating, “Both companies will establish a solid position in the electrification process of the North American automotive market.”
Lee Sang-jin daedusj@autodiary.kr