Ford "Targeting European Electric Vehicle Market with SK Ino"

SK Innovation Battery Plant 1 and 2 in Georgia, USA [Image Source=Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Ford Motor Company announced that it will partner with SK Innovation to target the European electric vehicle market.

According to major foreign media, Hau Thai-Tang, Ford's Chief Operating Officer (COO), attended the JP Morgan Conference on the 11th (local time) and said, "We are very excited about the battery joint venture with SK Innovation. The joint venture will expand beyond North America to Europe."

The two companies agreed last May to establish a joint venture in the United States for an annual battery production capacity of 60 gigawatts and to build two factories.

COO Thai-Tang explained that Ford's global electric vehicle plan requires 240 gigawatts of batteries annually by 2030, necessitating 10 factories. Of these, 140 gigawatts will be allocated to North America, with the remainder assigned to Europe, China, and other regions.

COO Thai-Tang also mentioned that, in addition to batteries, Ford has started producing transmissions and motors for electric vehicles in-house and is reviewing related software and semiconductor chips as part of vertical integration.

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