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Ford and SK On to End $11.4 Billion Battery Joint Venture Amid EV Market Challenges

ENERGY STORAGE

Ford Motor Co. and SK On will terminate their $11.4 billion joint venture, BlueOval SK, in December 2025 due to declining demand for battery-electric vehicles and the cessation of government subsidies from the Inflation Reduction Act.

Ford and SK On to End $11.4 Billion Battery Joint Venture Amid EV Market Challenges

Feb 18, 2026, 3:44 PM

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