Alibaba Sells Lingxi Games for Over $1.5 Billion Amid AI Push 
OpenAI Tightens AI Safety Monitoring After Security Incidents 
SK Hynix Shares Surge on Record $28.6 Billion Buyback 
Sun Pharma Wins U.S. Appeal in Pfizer Lipitor Antitrust Case 
Samsung Eyes $72 Billion Shareholder Return Plan as AI Chip Boom Fuels Profits 
Nordson Stock Rises as Q3 Earnings Beat Estimates, Outlook Raised 
Moderna Short Sellers Hit With $4.8 Billion Loss as Stock Soars 
Goldman Sachs Names 9 Top Japanese Semiconductor and Electronics Stocks 
Moody’s Upgrades Vodafone Hybrid Debt Ratings to Baa3 
REPAY Stock Rises After Visa Platform Connect Collaboration 
Alphabet Eyes First Australian Dollar Bond as AI Spending Drives Funding Push 
Shein Targets $26B-$27B Valuation for Hong Kong IPO 
BofA Sees Micron EPS Topping $230 by 2030, Backs Major Stock Upside 
Anthropic Eyes $10B-Plus Credit Line Ahead of Potential IPO 
Baidu Shares Sink to One-Year Low as Ad Weakness Overshadows AI Growth 
Google to Buy Spirit Airlines Business Data for $10 Million to Train AI 
Add as a preferred source on Google
SK Group and Geely are set to work together after signing a partnership deal to form a hydrogen business. It was reported that the South Korean conglomerate is planning to start a new venture and tapped China’s automotive company Geely for the project.
New business alliance between Chinese and South Korean firms
As per the Korea Times, the partnership between Geely and SK Group could have something to do with the projects involving fuel-cell electric vehicles (FCEVs) that are using gas. The leading South Korean investment company confirmed that it is in talks with the Chinese automaker for a business partnership.
It was said that the exact nature of the business that the SK Group and Geely will be doing is not yet known because the former did not clarify which businesses they will be pursuing together. Then again, based on the statements of business insiders, it was said that the two firms are planning to establish a mutual fund worth billions of won and use the money to invest in developing eco-friendly vehicles.
Such type of cars that they are intending to build are the hydrogen FCEVs. SK Group and Geely may also try other joint ventures and they have many options to choose from.
In any case, if SK and Geely’s latest business alliance is really aimed at developing hydrogen-powered cars, it was predicted that the former’s efforts to boost its presence in this industry will surely pay off.
About SK’s hydrogen venture
Prior to the partnership with Geely, SK Group already invested $1.5 billion on Plug Power, an American company engaged in the development of hydrogen fuel cell systems. It was said that the strategic partnership was formed to accelerate hydrogen economy expansion on Asian markets.
SK Holdings procured a 9.9% stake in Plug Power for $1.5 billion for the partnership. On the other hand, Geely is also exploring and has an intention to accelerate its growth in various industries thus the teaming up with SK is a great decision for the two companies. With their potential plan for eco-friendly FCEVs, their alliance may prove to be very beneficial to both sides as they will also be achieving their individual company goals.
