Dane Hardware (right), Ford design and release engineer, and Mary Fredrick, Ford battery validation engineer, measure the voltage of a battery using a digital multimeter at Ford's Battery Benchmarking and Test Laboratory in Allen Park, Michigan.
DETROIT – Ford Motor plans to form a joint venture with South Korean battery maker SK Innovation that will eventually manufacture battery cells for electric vehicles in the U.S.
The companies on Thursday announced they have signed a memorandum of understanding for a joint venture that will be called BlueOvalSK.
Production of the battery cells as well as well as supporting modules is expected to start by mid-decade, the companies said.
The announcement comes amid an expected surge in electric vehicle sales as well as a push by the Biden administration to increase domestic production of critical technologies for EVs such as battery cells, which power the vehicles.
Dane Hardware, Mary Fredrick, Biden
Ford, Ford's, Ford Motor, South, SK Innovation, U.S
Allen Park , Michigan, DETROIT, South Korean