Ford has recently announced a plan to create two North American factories to make EV Battery Plants for roughly 600,000 electric vehicles per year by the middle of this decade. The plan will be succeed in the partnership of SK Innovation of Korea.
According to a news portal, the name of joint venture will be BlueOvalSK. Ford’s plan to vertically integrate key parts of the electric vehicle supply chain. The company also informed that they have signed an agreement, but details on the ownership structure and factory locations have yet to be worked out.
SK Innovation already has a U.S. battery factory in Commerce, Georgia, and says it’s expanding production in Europe and China. It plans to be one of the top three electric vehicle battery suppliers in the world by 2025, according to a statement.
Ford said the two plants combined would produce the equivalent of 60 gigawatt hours of electricity per year. That’s equal to batteries for 600,000 Mustang Mach E extended range SUVs, which can go about 300 miles per charge.
It sees strong demand for EVs, predicting that its annual demand for energy in North America will be as high as 140 gigawatt hours per year by 2030, equaling the output of four to five battery factories.