A non-binding letter of intent (LIO) has been signed between SK On, Ford Motor Company and EcoPro BM to construct a cathode material production facility in North America. The three companies plan to sign a binding contract and begin construction of the facility later this year, with details of investment amount, share ratio and specific site location currently under discussion. The battery production plant BlueOval SK, established as a joint venture between SK On and Ford, will receive the cathode materials from the new site.
The agreement will contribute to Ford’s expanding electrification plans, with 60 GWh of production capacity already secured for late 2023 to support…
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