Ford Motor Co. and SK On have mutually restructured their BlueOval SK battery manufacturing joint venture in the United States. The agreement splits ownership of the key production assets.
Under the new arrangement, a Ford subsidiary assumes full ownership of the battery manufacturing plants in Kentucky. SK On takes sole control of the facility located in Tennessee.
The restructuring supports a strategic realignment for both firms. SK On will redirect its focus toward other growth areas, specifically energy storage systems. For Ford, the change brings key battery production facilities entirely in-house, marking a pivotal shift in its approach to the evolving EV supply chain.