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SK Innovation and Ford have joined forces to produce batteries for electric cars. For this joint business venture, it was reported that the two companies are considering setting up their facility for production in either Texas or Ohio.
As per The Korea Times, these two states in the U.S. are emerging as the leading candidates for the site. However, it was mentioned that it seems that Ohio is gaining a bit of favor over Texas.
The SKI and Ford deal
SK Innovation and Ford Motor signed a memorandum of understanding (MoU) for a battery joint venture just more than a week ago. The project is dubbed the BlueOvalSK, and it will be for the production of battery cells and support modules. The companies are looking into starting the operation by 2025.
"This MoU is just the start; it’s a key part of our plan to vertically integrate key capabilities that will differentiate Ford far into the future,” Ford president and CEO Jim Farley said in a press release. “We will not cede our future to anyone else.”
SK Innovation CEO & President Kim Jun added, “We are delighted to be entering into collaboration with Ford, America’s leading and iconic automaker. We are proud to be opening this new chapter in their long history.”
Choice of location for BlueOvalSk
In any case, insiders who are familiar with the matter stated that SK Innovation and Ford Motor might be officially debuting BlueOvalSK in July as the earliest date. By 2025, production will begin and will also have an online site.
Now, the partners are said to have two locations in mind about where to build their facility for the battery cell production. Ohio and Texas are the best bets, but the former is more likely to be the final choice, as per industry officials.
This is because the state is the second-largest when it comes to the number of workers in the automotive business. It is also considered as the manufacturing hub of carmakers in the U.S. Thus, it could be a better place to make the SKI and Ford Motor EV batteries.
As for Texas, it also houses many auto and tech facilities by major players in the industry. Plus, what made it an attractive option is the fact that it offers tax benefits.
"Because of attractive tax benefits and proximity to Mexico, Texas is also cited as an attractive site for the BlueOvalSK headquarters," an official said via phone interview.
