Fewer EVs need fewer batteries: Ford and SK On end their joint venture
NegativeTechnology

- Ford and SK On have decided to end their joint venture, with Ford retaining its battery plant in Kentucky while SK On will take over the facility in Tennessee. This decision reflects a shift in the electric vehicle (EV) market dynamics, as the demand for EVs appears to be decreasing, leading to a reduced need for battery production.
- The termination of this partnership is significant for Ford as it navigates a challenging landscape in the EV sector. Maintaining the Kentucky plant allows Ford to focus on its existing operations, while SK On's acquisition of the Tennessee facility may enable it to streamline its production capabilities in response to market demands.
- This development highlights broader trends in the automotive industry, where companies are reevaluating their strategies in light of changing consumer preferences and competitive pressures. Ford's ongoing efforts to innovate, including potential collaborations with Renault for affordable EVs, indicate a strategic pivot towards enhancing its product lineup amidst a competitive environment dominated by emerging players.
— via World Pulse Now AI Editorial System

