 |
Photo = SK on |
[Alpha Biz= Kim Jisun] SK On has signed a 15 trillion KRW (~$11 billion) deal to supply electric vehicle (EV) batteries to Nissan, marking its first battery supply agreement with a Japanese automaker.
On Wednesday, SK On announced the signing of the battery supply contract with Nissan.
Under the agreement, SK On will supply a total of 99.4 GWh of batteries to Nissan over six years, from 2028 to 2033. This volume is sufficient to power approximately one million mid-size EVs.
Although the contract value has not been disclosed, industry estimates suggest it could be around 15 trillion KRW, based on the total battery supply volume.
The batteries SK On will provide are high-performance high-nickel pouch cells, and they will be manufactured in North America. These batteries will be installed in four next-generation EV models Nissan plans to produce at its Canton, Mississippi plant for the North American market.
With this deal, SK On has expanded its customer base, adding Nissan to its existing partnerships with Hyundai Motor Group, Ford, Volkswagen, and Daimler. This strengthens SK On’s position as one of the top five global EV battery suppliers.
SK On currently operates a 22 GWh plant in Georgia, USA, and is constructing four additional plants in Georgia, Kentucky, and Tennessee through joint ventures.
Once all these plants are fully operational, SK On’s U.S. battery production capacity will exceed 180 GWh.
According to SNE Research, SK On’s EV battery shipments in 2023 totaled 39.0 GWh. With this latest deal, the company has secured an additional supply volume equivalent to 40% of its annual battery shipments.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
