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Hyundai Picks SK On as Battery Supplier for North America EVs

Nov. 29, 2022, 7:39 AM

Hyundai Motor Group selected SK On Co. to supply batteries for electric vehicles it makes in North America, reducing its reliance on Chinese suppliers to meet US climate tax law.

The group, which controls Hyundai Motor Co., Kia and Genesis, signed a memorandum of understanding with the Seoul-based battery maker Tuesday, according to statements from the two companies. SK will provide batteries to Hyundai’s EV plants in US after 2025, they said.

The US Inflation Reduction Act pushes EV makers to produce vehicles in North America and secure key minerals for batteries outside China. SK said it has signed ...