January 5, 2023
"We're going to produce an LFP product by 2025," Jason Lee, executive vice president and head of SK On's battery marketing division, told Reuters
SK On customer Ford Motor Co (F.N) said last year it plans to offer Chinese-made lithium iron batteries from CATL (300750.SZ, 宁德时代) in its Ford F-150 Lightning electric truck next year.
SK On plans to source its LFP batteries initially from China, Lee said.
"If you produce in the United States, there is no benefit," he said.
SK On is investing in new U.S. battery plants and by 2026 expects to have 150 gigawatt-hours of capacity.
