Ford Considers Offloading Excess Battery Capacity As EV Market Weakens: Report
Synopsis
According to a Bloomberg report, Michael Adams, the CEO of Ford and SK Innovation’s joint venture BlueOvalSK, potential customers could include other electric vehicle makers and firms in the energy storage business.
Ford Motor Co. (F) is reportedly considering offloading excess battery manufacturing capacity at its new joint-venture Kentucky factory, built in partnership with South Korea’s SK Innovation Co., as demand for electric vehicles weakens in the U.S.
According to a Bloomberg report, BlueOvalSK CEO Michael Adams said potential customers could include other electric vehicle makers and firms in the energy storage business. BlueOvalSK is the joint venture between Ford and SK Innovation.
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