European Stocks Rise as Markets Await Key U.S. Inflation Data 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
USPS Expands Electric Vehicle Fleet as Nationwide Transition Accelerates 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Momenta Quietly Moves Toward Hong Kong IPO Amid Rising China-U.S. Tensions 
Michael Dell Pledges $6.25 Billion to Boost Children’s Investment Accounts Under Trump Initiative 
UPS MD-11 Crash Prompts Families to Prepare Wrongful Death Lawsuit 
EU Prepares Antitrust Probe Into Meta’s AI Integration on WhatsApp 
Sam Altman Reportedly Explored Funding for Rocket Venture in Potential Challenge to SpaceX 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Ford Motor and SK Innovation are reportedly joining forces and will soon announce their electric vehicle battery joint venture in the U.S. This information was said to have been shared by two individuals who are familiar with the situation.
Ford Motor and SK Innovation signed a memorandum of understanding (MOU) to work together. The partnership is likely to be officially announced on Thursday, May 20, according to sources who provided the information to Reuters.
The deal between Ford and SKI
The reported joint business deal of the American automaker and Korean energy conglomerate will include building a plant for the production of battery cells for rechargeable EV batteries. The two companies will jointly own the facility and operate together as well.
The insider further revealed that the talks about SK Innovation and Ford Motor’s plan to do business together intensified last month when the former agreed to pay its rival LG Energy Solutions some $1.8 billion to settle their infringement dispute in the U.S.
But then again, Ford was contacted to comment on this partnership speculation but reportedly declined. The company only said that SK Innovation is a valued supplier. As for the Korean firm, it did not give a direct reply as well and stated it does not comment on inquiries about projects as it is a confidential matter.
U.S. and Korean leaders to meet for
It was said that Ford and SKI’s deal could be similar to General Motors and LG Energy’s battery joint venture. The latter is already constructing facilities in Tennessee and Ohio and GM will benefit from this too since they are working together.
Meanwhile, the possibility of Ford Motor and SK Innovation announcing their partnership is quite high. Bloomberg also reported that the companies’ venture is one of the highlights of the U.S. and S. Korea’s ties on the electric vehicles business. The media outlet wrote that Ford and SKI are poised to announce that they have reached an agreement to cooperate in building EV batteries.
Meanwhile, Korean President Moon Jae In is already in Washington for a 4-day summit with President Joe Biden. They are expected to discuss EVs along with representatives from companies including Samsung and SK, who accompanied Moon.
