SK On could start selling prismatic EV batteries
According to a Reuters report, SK On chief spokesperson Ko Chang-Kook says the company is discussing supplying prismatic batteries to automakers. The company is looking to diversify its product line-up sooner rather than later with the new deals.
SK On introduced its prismatic battery in March 2023, claiming it can charge up to 80% in less than 18 minutes, faster than its Super Fast (SF) battery. Ko says the company has already completed the development and stands ready to begin manufacturing as soon as it receives orders. He did not reveal which automakers are interested in procuring its prismatic battery. In another interesting twist, the company is also contemplating venturing into the cylindrical battery business.
Currently, SK On only manufactures pouch-type batteries for EVs. Unlike prismatic and cylindrical batteries, which feature hard casing, pouch-type batteries use sealed flexible foils and thin metal bags for protection. Each battery type offers different merits but also possesses specific limitations.
SK On was part of SK Innovation (SKI), South Korean conglomerate SK Group’s energy and chemical company. In late 2021, SKI split off SK On, creating a separate battery business subsidiary. The resulting independent company has never recorded a profit.
According to a report from Korea JoongAng Daily, SK On’s parent company SKI is considering merging with profitable sister concern SK E&S, a liquefied natural gas (LNG) and renewable energy company. SKI and SK E&S plan to conduct a meeting on 17 July, and if their talks go through, the resulting alliance company will have a market valuation of over KRW 100 trillion (EUR 66 billion).
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