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☆ How Georgia became America's green-manufacturing capital
▼ + stars: | 2024-03-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +14 min

Howey, now 30, grew up in northwestern Georgia near Dalton, a small city known as the "carpet capital of the world." SolarCycle, which reclaims old solar panels to make new ones, in February announced plans for a glass factory. The law authorized big tax credits for companies making renewable-energy technologies, including solar panels, batteries, and electric vehicles, in the US. According to S&P Global, the US imported more than two-thirds of its solar panels from Southeast Asia last year. When he sees solar panels atop the chargers, he feels pride in his job.

Persons: Robert Howey, Howey, he'd, Qcells, Catherine Boudreau, Joe Biden, Biden, Bob Keefe, Keefe, Gedia, Pat Wilson, Wilson, Brian Kemp, Benz, Dalton, Kemp, Heidi Popham, Popham, Donald Trump, Scott Moskowitz, Sen, Jon Ossoff of, Moskowitz, it's, Carl Campbell, Campbell, —, Whitfield, Jevin Jensen, Jensen, He's Organizations: US Navy, Business, Qcells, South, Hanwha, SK, Hyundai, Georgia Department of Economic, Gov, Porsche, Mercedes, SK On's, Financial Times, Georgia Northwestern Technical College, Treasury Department, P Global, Microsoft, Development Authority, Shaw Industries, Mohawk Industries, EV Locations: Georgia, Dalton, Japan, Cartersville, South Korea, Malaysia, North Carolina, China, Georgia , North Carolina, South Carolina, Savannah, Atlanta, Cartersville , Georgia, Germany, Commerce , Georgia, Southeast Asia, Korea, Jon Ossoff of Georgia, Washington, BloombergNEF, Vietnam, Whitfield County, ., Whitfield, Calhoun

SEOUL, July 28 (Reuters) - SK Innovation Co Ltd (096770.KS), owner of South Korea's top refiner SK Energy, said on Friday it expects refining margins to gradually improve in the second half thanks to favourable market conditions backed by solid travel season demand. Analysts said SK Innovation's refining business had been hit by declines in refining margins and oil prices, while its battery business had continued generating losses due to costs related to its newly set up U.S. battery plants. SK Innovation's battery unit SK On, which was split off last year, accounted for about 20% of the company's revenue in the second quarter. SK Innovation said it expects its battery unit's profitability to improve in the second half thanks to the U.S. tax subsidies from the Inflation Reduction Act. Shares of SK Innovation were trading down 0.9%, versus benchmark KOSPI's (.KS11) 0.5% fall at 0210 GMT.

Persons: Refinitiv SmartEstimate, Kim Kyunghoon, 1,282.8300, Heekyong Yang, Joyce Lee, Jamie Freed, Kim Coghill Organizations: SK Innovation Co, refiner SK Energy, Analysts, SK Innovation's, SK, SK Innovation, Ford Motor, Hyundai Motor, Chief, SK On's, LG Energy, Thomson Locations: SEOUL, North America, Europe

The company did not specify how much it expects its second-quarter refining margin, a key profit metric for refiners, to be. The company posted operating profit of 375 billion won ($281.6 million) for the first quarter ended March, versus 1.6 trillion won a year earlier. In March, Ford Motor, which uses batteries from SK On, recalled 18 electric trucks due to a battery cell manufacturing defect. SK On currently has battery joint ventures with Ford and Hyundai Motor Group in the United States. Shares of SK Innovation were trading up 0.5% in morning trade, versus a 0.3% fall in the broader KOSPI index (.KS11).

☆ Ford plans to restart production of the electric F-150 Lightning on March 13
▼ + stars: | 2023-03-02 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – Ford Motor plans to restart production of its electric F-150 Lightning pickup on March 13 – more than a month after a battery issue caused one of the vehicles to catch fire. The F-150 Lightning is being closely watched by investors, as it's the first mainstream electric pickup truck on the market and a major launch for Ford. The battery issue adds to ongoing "execution issues" detailed to investors last month by Ford CEO Jim Farley that crippled the automaker's fourth-quarter earnings. Ford initially opened customer reservations for the F-150 Lightning when it was revealed in May 2021. More than 200,000 reservations were placed prior to Ford temporarily closing the process to attempt to align production with expected demand.

☆ Ford halts F-150 EV production for another week after battery fire
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

Feb 24 (Reuters) - Ford Motor Co (F.N) will halt production of its electric F-150 Lightning pickup for another week following a battery issue that caused an EV truck to catch fire earlier this month, the U.S. automaker said on Friday. SK On, a South Korean EV battery maker and supplier to Ford, has again started building battery cells at a plant in Georgia. "It will take SK time to ensure they are back to building high-quality cells and to deliver them to the Lightning production line," Ford said in a statement. Last week, the automaker said it will continue to hold already-produced vehicles while it worked through engineering and process updates. The fire incident involving Ford's EV truck happened on Feb. 4, during a pre-delivery quality inspection at its Dearborn, Michigan plant, causing the company to halt production the next day.

☆ South Korea's SK On plans a new, lower cost EV battery by 2025
▼ + stars: | 2023-01-06 | by ( Joseph White | ) www.reuters.com time to read: +2 min

Tesla Inc (TSLA.O) and EV startup Rivian (RIVN.O) also have announced plans to use LFP batteries. LFP batteries can be produced at lower cost, but deliver less range than comparable nickel-cobalt EV batteries. LFP batteries made in China can have a 20% cost advantage over nickel cobalt batteries. Battery makers and automakers are expanding EV battery capacity globally, and some industry analysts have questioned whether that could result in oversupply. Raising the capital required to fund investments in capacity and new chemistries is one of SK On's main challenges, Lee said.

☆ Australia's Lake Resources to supply lithium to S. Korean battery maker
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +1 min

Oct 12 (Reuters) - Australia's Lake Resources (LKE.AX) said on Wednesday it had signed a deal with South Korean battery maker SK On Co Ltd to supply lithium from its flagship Kachi project in Argentina. SK On, a unit of SK Innovation (096770.KS), will acquire a 10% stake in New South Wales-based lithium developer Lake Resources as part of the agreement. Automobile and battery makers have been signing deals with Australian miners for supply of lithium, a key ingredient in electric vehicle batteries, amid a global push towards cleaner sources of energy. read moreThe agreement allows SK On to secure a stable lithium supplier for its U.S. supply chain, said Jinsuk Ryu, SK On's vice president. Last month, Lake Resources said operations at its Kachi project were proceeding, after a dispute with Bill Gates-backed Lilac Solutions over certain performance milestones to get a 25% stake in the project.

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