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flag Ford and SK On are ending their $11.4B joint venture, splitting control of their battery plants.

flag SK On and Ford are ending their $11.4 billion joint venture, BlueOval SK, with Ford taking full control of the Kentucky battery plant and SK On assuming ownership of the Tennessee facility. flag The split, effective immediately, allows both companies to operate independently, driven by shifting EV market dynamics, slower adoption, and strategic changes. flag Production will continue uninterrupted, and jobs are expected to remain stable. flag The move reflects a broader industry trend toward direct ownership for greater flexibility and better alignment with U.S. tax credit requirements.

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