WiseTech Global Denies Knowledge of Investigation Into Founder Richard White 
Tesla and NatPower Partner on $5 Billion Battery Storage Expansion in Europe 
Alphabet Replaces Verizon in Dow Jones Industrial Average 
Fortescue Faces Class Action Over Sexual Harassment Claims at Australian Mining Sites 
SpaceX Stock Rebounds After Sharp Selloff, But Valuation Concerns Persist 
SK Hynix Targets $29.4 Billion Nasdaq Listing to Expand AI Chip Business 
Meta Reportedly Developing ‘Arena’ Prediction Market App to Rival Polymarket and Kalshi 
Doncasters Raises $919 Million in NYSE IPO as Aerospace Growth Accelerates 
Tencent Reviews Marvelous Stake as Gaming Giant Reassesses Global Investment Strategy 
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices 
Ryan Cohen Rejects GameStop Pay Package, Prepares New eBay Acquisition Plan 
Micron Stock Surges on Strong AI Demand, Record Revenue, and Bullish Q4 Forecast 
Pelosi Discloses Major Intel and Uber Call Option Purchases Worth Up to $6 Million 
Bain Capital Nears Deal for Majority Stake in Volkswagen Marine Engine Unit Everllence 
Samsung Electronics Stock Surges on Report of Massive $59 Billion Share Buyback Plan 
Alibaba Shares Fall After Anthropic Alleges Massive AI Model Distillation Campaign 
DOJ Opens Investigation Into NYC Coffee Shop Over Anti-Goldman Social Media Post 
SK Group and Geely are set to work together after signing a partnership deal to form a hydrogen business. It was reported that the South Korean conglomerate is planning to start a new venture and tapped China’s automotive company Geely for the project.
New business alliance between Chinese and South Korean firms
As per the Korea Times, the partnership between Geely and SK Group could have something to do with the projects involving fuel-cell electric vehicles (FCEVs) that are using gas. The leading South Korean investment company confirmed that it is in talks with the Chinese automaker for a business partnership.
It was said that the exact nature of the business that the SK Group and Geely will be doing is not yet known because the former did not clarify which businesses they will be pursuing together. Then again, based on the statements of business insiders, it was said that the two firms are planning to establish a mutual fund worth billions of won and use the money to invest in developing eco-friendly vehicles.
Such type of cars that they are intending to build are the hydrogen FCEVs. SK Group and Geely may also try other joint ventures and they have many options to choose from.
In any case, if SK and Geely’s latest business alliance is really aimed at developing hydrogen-powered cars, it was predicted that the former’s efforts to boost its presence in this industry will surely pay off.
About SK’s hydrogen venture
Prior to the partnership with Geely, SK Group already invested $1.5 billion on Plug Power, an American company engaged in the development of hydrogen fuel cell systems. It was said that the strategic partnership was formed to accelerate hydrogen economy expansion on Asian markets.
SK Holdings procured a 9.9% stake in Plug Power for $1.5 billion for the partnership. On the other hand, Geely is also exploring and has an intention to accelerate its growth in various industries thus the teaming up with SK is a great decision for the two companies. With their potential plan for eco-friendly FCEVs, their alliance may prove to be very beneficial to both sides as they will also be achieving their individual company goals.
