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SK On

SK On is a battery company headquartered in Seoul, South Korea. Spun off in 2021, it is a subsidiary of SK Innovation, a member of SK Group. Its batteries are used for electric vehicles and ESS. SK Trading International, SK Enterm, and SK Enmove were merged into SK On from 2024 to 2025.

History

In July 2021, SK Innovation announced the spin-off of its battery business.[1] The entity launched as SK On in October.[2] In December 2022, SK On announced a new plant with Hyundai in Cartersville, Georgia.[3] In February 2023, SK On withdrew from a joint venture with Ford and Koç Holding in Turkey.[4] In August, construction started on a cathode material plant joint venture with EcoPro BM and Ford in Bécancour, Quebec. Construction was paused multiple times.[5]

In November 2024, SK Trading International (a crude oil and petroleum products affiliate) merged into its sister company SK On.[6] In February 2025, SK Enterm (a commercial tank terminal operator under SK Trading International) also merged into SK On.[7] In March, SK On secured a supply contract with Nissan.[8] In April, Slate chose SK On as its battery supplier.[9] In July, SK On announced the acquisition of SK Enmove, a lubricant maker under SK Innovation.[10] In September, SK On completed construction on an all-solid-state battery plant in Daejeon, South Korea.[11] In November, SK On swapped stakes in its two joint ventures with Eve Power in China, taking full ownership of the Jiangsu site.[12] In December, SK On and Ford announced the dissolution of their joint venture BlueOval SK, with SK On taking the Tennessee battery facility.[13][14] In March 2026, SK On laid off more than a third of its workforce at its plant in Commerce, Georgia. The plant has supplied Volkswagen and Hyundai.[15]

Manufacturing locations

See also

References

  1. SK Innovation to spin off EV battery business - The Korea Times www.koreatimes.co.kr, 2021-07-01, retrieved 2026-03-12^
  2. SK Innovation launches new battery entity 'SK On' - The Korea Times www.koreatimes.co.kr, 2021-10-01, retrieved 2026-03-12^
  3. Hyundai and SK announce major EV battery plant for Cartersville WDEF, 2022-12-08, retrieved 2026-03-12^
  4. Byun Hye-jin. SK On withdraws from Turkey battery project with Ford The Korea Herald, 2023-02-09, retrieved 2026-03-12^
  5. Moon Joon-hyun. Ford halts Quebec battery plant project with SK, EcoPro The Korea Herald, 2024-08-19, retrieved 2026-03-12^
  6. SK On Completes 3-way Merger, Driving Momentum for Sustainable Growth eng.sk-on.com, retrieved 2026-03-12^
  7. Byun Hye-jin. SK On finalizes three-way merger with SK subsidiaries The Korea Herald, 2025-02-02, retrieved 2026-03-12^
  8. Kan Hyeong-woo. SK On lands mega battery deal with Nissan The Korea Herald, 2025-03-19, retrieved 2026-03-12^
  9. Korean battery makers help drive Bezos' effort to challenge Tesla's dominance in EV market - The Korea Times www.koreatimes.co.kr, 2025-04-27, retrieved 2026-03-12^
  10. Kan Hyeong-woo. SK Innovation reshuffles core units to rescue ailing battery business The Korea Herald, 2025-07-30, retrieved 2026-03-12^
  11. SK On opens all-solid-state battery pilot plant for commercialization by 2029 - The Korea Times www.koreatimes.co.kr, 2025-09-16, retrieved 2026-03-12^
  12. Yonhap. SK On, Chinese partner to swap stakes in battery JVs The Korea Herald, 2025-11-20, retrieved 2026-03-12^
  13. SK On, Ford to disband US joint venture - The Korea Times www.koreatimes.co.kr, 2025-12-11, retrieved 2026-03-12^
  14. Jack Ewing. In Kentucky, People Blame Ford More Than Trump for Lost Factory Jobs The New York Times, 2026-02-12, retrieved 2026-03-12^
  15. SK On lays off nearly 1,000 workers at Georgia battery plant amid EV slowdown - The Korea Times www.koreatimes.co.kr, 2026-03-07, retrieved 2026-03-12^
  16. Domestic < Places of business < Company eng.sk-on.com, retrieved 2026-03-12^
  17. Overseas < Places of busines < Company < SK on eng.sk-on.com, retrieved 2026-03-12^