SK On considers starting LFP battery production in 2026
According to Choi Young-chan, Chief Administrative Officer of SK On, the company is in talks with several major OEMs to sign contracts for the supply of LFP batteries. He did not name any names, according to Reuters, but said the company intends to start mass production of LFP cells as soon as negotiations are finalised.
“We developed it, and we are ready to produce it. We are having some dialogue with OEMs who will take our LFP,” Choi told the news agency on the sidelines of the CES technology trade fair in Las Vegas. “Maybe if the dialogue is successful, we can make it in 2026 or 2027. We are flexible.” Choi said SK On is considering manufacturing LFP batteries in Europe or China, but not in the US.
SK On’s existing customers include Ford, Volkswagen and Hyundai. The company currently has production facilities in the United States, South Korea, Hungary and China.
According to Reuters, this is the first time that SK On has announced details of its LFP battery strategy and the timetable for the start of mass production. South Korean competitors LG Energy Solution and Samsung SDI have already announced that they are aiming for mass production of their LFP products in 2026. What all three have in common is the strong competition from China: “The biggest challenge is cost. We have to compete with the Chinese LFPs. Maybe it’s not easy,” Choi is quoted as saying in the Reuters report.
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