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[Alpha Biz=(Chicago) Reporter Kim Jisun] Ford has decided to reduce investment in electric vehicles due to rising labor costs in the U.S. and concerns over weak global demand for electric vehicles. It also plans to delay the operation of its second battery plant in SK On and Kentucky, USA.
According to the industry on the 30th, Ford announced that it would reduce its investment in electric vehicles by $ 12 billion (about 16.26 trillion won) due to price pressure from competitors and concerns over falling demand.
It is also planning to delay the operation of its second battery plant to be built in SK-on and Kentucky. The original target for operation was 2026. SK ON established Blue Oval SK, a battery joint venture with Ford last year, and is building one plant in Tennessee and two plants in Kentucky. The annual production volume of the three plants is 127GWh. It is equivalent to 1.2 million units of high-performance electric vehicles.
"We are considering delaying the production of the Blue Oval SK Kentucky 2 plant, which was scheduled for 2026," SK On said. "The Tennessee plant and Kentucky 1 plant will start mass production in 2025 as planned."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
