SK On Co., Ltd. is a South Korean EV battery manufacturer spun off from SK Innovation in 2021, headquartered in Seoul. SK On generates approximately $10 billion in revenues and is scaling rapidly with gigafactories in Georgia (Blue Oval SK JV with Ford), Kentucky (Ultium-adjacent), and Hungary (BMW and Volkswagen supply). Products include high-nickel NMC pouch cells and prismatic cells for passenger EVs and commercial vehicles. SK On holds approximately 7% global EV battery market share.
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