SK On signs battery supply deal with US EV startup Slate Auto, focusing on affordable EVs.

From Yahoo Finance: 2025-04-29 05:11:00

South Korean battery manufacturer SK On Company Ltd has signed a supply agreement with US-based electric vehicle startup Slate Auto. SK On will supply around 20 gigawatt-hours of US-made nickel-cobalt-manganese batteries to Slate between 2026 and 2031 for their electric pickup truck.

SK On, a subsidiary of South Korea’s SK Group, is investing heavily in the North American EV supply chain. They operate two battery plants in the US and are building four more in partnership with automakers like Ford. CEO Lee Seok-hee emphasized their commitment to delivering reliable, high-quality batteries for sustainable mobility.

The partnership with Slate marks SK On’s strategic move into more affordable EV market segments. Slate’s CEO highlighted the customizability of their truck platform, thanks to SK On’s innovative approach. This collaboration allows Slate to deliver a radically affordable vehicle to the market.

SK On’s CEO, Lee Seok-hee, stated that the partnership with Slate showcases their US manufacturing capabilities, supporting innovative customers effectively. The company aims to make EVs more accessible while reducing emissions. Slate’s CEO, Chris Barman, praised SK On’s partnership for allowing them to meet their goal of delivering an affordable vehicle.

Read more: SK On in battery deal with US EV start-up Slater Auto