Ford's EV Battery Partner SK On Targets US Growth

SK ON has secured a $9.2 billion loan from the US government to build battery plants, aiming to reduce reliance on Chinese components. The company plans to construct 14 plants globally, including six in the US by 2025. Despite challenges like inflation and labor costs, SK ON aims to turn a profit next year, driven by investor pressure and an upcoming IPO. The new CFO is expected to align the company with investor expectations.

Which companies, besides the one discussed, have received similar loans from the US government?

• Tesla, General Motors, and Ford

• Boeing, Lockheed Martin, and Raytheon

• Apple, Microsoft, and Google

• Amazon, Facebook, and Netflix

What is the primary purpose of the loan given to the joint venture between Ford and SK ON?

• To expand into European markets

• To invest in renewable energy sources

• To create jobs and reduce reliance on Chinese components

• To develop new electric vehicle models

What challenge is SK ON facing in its goal to make a profit next year?

• Shortage of raw materials

• Competition from European companies

• Lack of government support

• High inflation and rising labor costs

What is SK ON's timeline for its IPO?

• In the next eight years

• In the next six years

• In the next four years

• In the next two years

What expertise does the new CFO bring to SK ON?

• Experience in marketing and sales

• Knowledge of investor expectations

• Background in engineering and design

• Expertise in supply chain management