SK On, a premier electric vehicle (EV) battery manufacturer, has been spotlighted on Fortune’s esteemed 2023 “Change the World” list. This accolade highlights the company’s influential role in propelling the United States towards a more electric-focused transportation future, a significant move in the global fight against climate change.
Why It Matters
The transition to electric vehicles is paramount in mitigating the detrimental effects of greenhouse gas emissions. As a part of the “American electrifiers” group, SK On stands among a select few businesses championing this cause, ensuring that EVs become not just a luxury but a practical and affordable transportation alternative for many.
Key Points
- American electrifiers: A collective of transformative companies in the transportation sector. Among them, SK On is distinguished as the sole EV battery manufacturer, earning praise for its commitment to domestic manufacturing and establishing a U.S-based EV battery cell supply chain.
- U.S. Operations:
- SK Battery America: A direct offshoot of SK On with two fully operational EV battery plants located in Commerce, Ga.
- BlueOval SK: Resulting from a collaboration between Ford and SK On, construction is underway for plants in Glendale, Ky. and Stanton, Tenn., destined to produce batteries for upcoming Ford and Lincoln EV models.
- SK On / Hyundai Motor Group: Announced a joint venture in April, with intentions to launch a facility in Bartow County, Ga. dedicated to crafting batteries for forthcoming Hyundai and Kia electric vehicles.
- By 2026, SK On, along with its partners, aims to reach a staggering 180 GWh of annual capacity. This output translates to supplying batteries for approximately 1.5 million new electric vehicles annually.
Bottom Line
The Fortune “Change the World” list is not just about recognition; it’s about celebrating companies that intertwine social betterment with their core business strategies. SK On’s inclusion underscores the importance of their work and the measurable societal impact, innovative strategies, and significant business achievements they’ve accomplished in the realm of electric transportation.
