SK On, Posco Holdings ink strategic partnership on batteries

SK On CEO Ji Dong-seop (left) and Yoo Byung-ok, head of Posco Holdings’ eco-friendly future materials business division, signed a memorandum of understanding on Wednesday in Seoul. (Posco Holdings)SK On and Posco Holdings said Wednesday that they have forged a strategic partnership in a move to secure a stable ecosystem for their burgeoning battery business amid deepening worries over global supply chain disruptions.They plan to create a working-level group to work together on global expansion, joint investment in raw materials, a road map for cathode development, expansion of anode supplies and a collection network for used batteries.The extensive partnership comes as both firms are pouring resources into their fast-growing battery business in response to the robust demand for electric vehicles and eco-friendly mobility overall. SK On, the battery spinoff of SK Innovation,…

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