Tiếng ViệtSK Group is strengthening cooperation with China’s Zhejiang Geely Holding Group on electric vehicle (EV) batteries and automotive electronics components to improve the profitability of its battery unit SK On and bolster eco-friendly mobility amid headwinds facing the EV industry, SK Inc., the group’s holding company, said Wednesday.
SK Inc. said it signed a strategic business cooperation agreement with Zhejiang Geely Holding Group on Tuesday, aimed at initiating a broad partnership in eco-friendly mobility areas such as EV batteries and automotive electronics components.
The strategy is to combine SK’s business development capabilities with the Chinese firm’s mobility expertise, better known for its Geely Auto brand, to secure global competitiveness across the entire EV value chain.
SK said this is not the first collaboration between the two, as SK On signed a contract in 2023 to supply battery modules to Polestar, an EV brand of the Chinese group, starting in 2025.
SK Inc. said Chey Jae-won, its executive vice chairman, played a pivotal role in establishing the cooperative relationship between the two sides through his global networking. Chey is known to have various connections with Chinese companies and has maintained a close relationship with Geely.
Established in 1986, Zhejiang Geely Holding Group is a global mobility company that owns several automotive brands. As of 2023, Geely’s vehicle sales reached 2.79 million, with sales of eco-friendly cars exceeding 980,000.
Through this agreement, the two companies plan to explore cooperation opportunities in the eco-friendly mobility sector, including EV batteries, charging infrastructure, automotive electronics components and eco-friendly energy, the holding company said.
“Through this partnership, the two companies are expected to lead the global EV market and eco-friendly energy sector, establishing a strong foothold in the future mobility sector,” said Jang Yong-ho, CEO of SK Inc.
“Collaboration with SK is part of our efforts to enhance the mobility industry in a sustainable way with global partners,” said Daniel Donghui Li, CEO of Geely Holding Group. “By leveraging our respective strengths, we will be able to provide better eco-friendly mobility experiences to global consumers.”
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