SK On – Hyundai Motor Group joint battery factory awarded “Deal of the Year”
2023.11.14 | SKinno News

■ The project takes honor in the Large Community category, marking the company’s second win of the award following its previous win with “SK Battery America” in 2019


The joint battery plant project of SK On and Hyundai Motor Group has been awarded the “Deal of the Year” by an economic organization in Georgia, U.S.

On November 13 (local time), the Georgia Economic Developers Association announced that the project of the two companies was selected as the “Deal of the Year” in the Large Community category.

The association began awarding the “Deal of the Year” award in 2008 and selected nominees annually based on their economic impact on the state of Georgia, along with the complexity and expertise required to finalize contracts.

Earlier, the two companies announced a joint investment of USD 5 billion (approximately KRW 6.5 trillion) to build a 35 GWh battery production plant in Bartow County, Georgia. The company targeted operation commencement for the second half of 2025.

This marked the second time SK On received the “Deal of the Year” award. SK On previously won the award in the Mid-size Community category in 2019 for its battery production plant, “SK Battery America,” built in the city of Commerce.

SK On has played a pivotal role in establishing the electric vehicle (EV) industry belt in the southeastern region of the U.S. Commissioner Pat Wilson from the Georgia Department of Economic Development said: “SK Battery America was the first mover when it comes to the creation of an American battery facility.” He added, “Having SK open the facility when they did truly changed the landscape of battery production in the U.S. This was the first ever and what is beginning to be a creation of an entire ecosystem, because that battery facility opened.”

Last month, SK On was recognized for its electrification leadership in North America and was ranked first in the “Change the World” list of innovative companies chosen by the American economic magazine Fortune.

SK On currently operates two of its own battery production plants in Georgia and is building a joint plant with Hyundai Motor Group. In addition, the company is constructing three battery plants (two in Kentucky and one in Tennessee) in collaboration with Ford Motor Company.

Upon completion of these plants in 2025, SK On will have a battery production capacity of over 180 GWh alone in the U.S.


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