Iran War Escalates as US, Houthis Target Ships Near Key Oil Routes 
Wall Street Hits Record High as Softer Inflation Data Eases Fed Rate Hike Fears 
LG, Nvidia Expand AI Partnership With Humanoid Robots, AI Factories 
European Stocks Steady as U.S.-Iran War, Euro Zone Data Keep Investors Cautious 
Super Micro Stock Jumps 19% as AI Server Demand Drives Strong 2027 Outlook 
Apple Develops China-Specific AI Model With Alibaba as Apple Intelligence Launch Nears 
Paramount Skydance Clears Regulatory Hurdles for Warner Bros. Discovery Deal 
Maersk Raises 2026 Earnings Outlook as Shipping Profits Beat Expectations 
Bernstein Picks BYD and Xiaomi as Top China EV Stocks Despite Weaker Demand 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
Cisco Forecasts Strong Fiscal 2027 Growth as AI Networking Demand Surges 
Tesla Roadster Reveal Could Feature SpaceX Thrusters in August 
Ford to Move Some Lincoln Production From China to U.S. in 2030 
Anthropic Eyes $6B Decart AI Acquisition Ahead of Mega IPO 
Google Pushes Gemini AI Overhaul as Sergey Brin Targets Model Supremacy 
Paramount Weighs CNN Sale as $110B Warner Bros. Discovery Deal Faces Antitrust Fight 
Bill Ackman’s Pershing Square Returns to Netflix With Major New Stake 
Add as a preferred source on Google
SK on Co., Ltd. and Ford Motor Company announced this week they have officially broken ground for the construction of their electric vehicle battery plant in Glendale, Kentucky, U.S.A. the project is part of the companies’ joint venture for EV battery production.
SK on and Ford Motor broke ground at the BlueOval SK Battery Park for their BlueOval SK JV. they have put in $5.8 billion for the manufacturing of advanced batteries for the future Lincoln and Ford electric vehicles. Production in the said plant is expected to begin in 2025 while also creating 5,000 new jobs in the said state.
As per The Korea Herald, the groundbreaking ceremony was attended by around 400 business leaders, local residents, US state and federal officials, and the SK Group’s executive vice chairman, Chey Jae Won.
It was reported that the construction of the Blue Oval SK plant is on schedule. Two mega manufacturing facilities for batteries are being built, and these are capable of producing more than 80-gigawatt hours per year.
The Blue Oval SK is a joint venture set up by SK on and Ford last year. The goal of the project is to establish a strong foothold so they can expand their market share in the battery market globally.
“Blue Oval SK Battery Park will be at the core of the electrification of the North American auto market,” SK on president and chief executive officer, Jee Dong Seob, said in a press release. “We expect SK On and Ford’s leadership in the global electric vehicle market to be solidified through BlueOval SK.”
David Hahm, the chief of Blue Oval SK, further stated in the same release, “At Blue Oval SK Battery Park, we’re building the future – state-of-the-art batteries for future Ford and Lincoln electric vehicles and a bright future for the workforce in Kentucky and in order to produce these batteries, we need a premier workforce that is trained in the latest battery and advanced manufacturing technology.”
Finally, the groundbreaking took place about a year and a half after SK on and Ford Motor announced their partnership in September 2021 with a total investment of $11.4 billion to build the two vast manufacturing campuses in the U.S.
