SK On's plant in Tennessee / Courtesy of SK On
SK On has completed the restructuring of its battery joint venture with Ford Motor, BlueOval SK, converting its Tennessee plant in the United States into a standalone entity, the company said Thursday.
By unwinding the joint venture structure, the company aims to strengthen its financial position while increasing operational autonomy over its U.S. production base.
According to SK On, the existing BlueOval SK Tennessee plant has been renamed “SK On Tennessee” and has begun operating as a fully independent facility.
Under the new structure, SK On will fully own and operate the Tennessee plant, while the two Kentucky plants previously under BlueOval SK will be owned and operated by Ford.
