South Korean company SK On will supply lithium nickel manganese cobalt (NMC) battery cells with high nickel content to electric vehicle manufacturer Slate from the United States. According to SK On, an agreement has been reached for 20 gigawatt-hours of battery capacity from 2026 through 2031. Industry sources estimate the value of the deal to be around the equivalent of 2.8 billion US dollars.
Expandable electric pick-up
Slate, which was founded in the state of Michigan in 2022, plans to launch a compact, two-seat electric pick-up truck in the course of 2025 with a starting price of less than 30,000 dollars. The vehicle concept allows for modular expansion through accessory kits that can be used to upgrade the model to a five-seat SUV.
Accelerating U.S. market expansion
The agreement with Slate comes just weeks after a major order from Nissan. SK On has been investing in expanding production capacity in the United States since 2019 and currently operates a battery plant in Georgia. Other facilities are under construction in Georgia, Kentucky, and Tennessee, some in collaboration with car manufacturers. According to SK On, about half of its global production capacity will be located in the United States by the end of 2026, with planned production of more than 180 gigawatt-hours per year.
Sources:
https://skinnonews.com/global/archives/21087
https://www.kedglobal.com/batteries/newsView/ked202504250003
