$2.8 billion

[mrgentleman]

SK On, the battery arm of South Korea's SK Group , has signed a $2.8 billion supply deal with US EV startup Slate Auto, backed by Jeff Bezos. Under the agreement, SK On will provide 20 GWh of battery capacity from 2026 to 2031 ,enough for about 300,000 midsize EVs. The batteries will be made at SK's US plants and used in Slate's upcoming $30,000 compact electric pickup. The deal signals SK On's growing presence in the U.S. and its strategic shift toward more affordable EV models. Thoughts?

 

[Heather1]

That's a big move, supplying 20 GWh for a $30K electric pickup shows they're betting on mass-market EVs...Its a pretty smart play by SK On, especially with U.S. production and Bezos backing

 

[jambalay444]

SK On, the battery arm of South Korea's SK Group , has signed a $2.8 billion supply deal with US EV startup Slate Auto, backed by Jeff Bezos. Under the agreement, SK On will provide 20 GWh of battery capacity from 2026 to 2031 ,enough for about 300,000 midsize EVs. The batteries will be made at SK's US plants and used in Slate's upcoming $30,000 compact electric pickup. The deal signals SK On's growing presence in the U.S. and its strategic shift toward more affordable EV models. Thoughts?

This is a huge deal for SK On. That $30k compact pickup is the real headline, though. Is that price point even possible with today's battery costs?

 

[SlateRunner]

This agreement showcases SK On's strategic push into the U.S. market, where it's zeroing in on affordable electric vehicle models. By providing batteries for Slate Auto's compact electric pickup priced at $30,000, SK On is setting itself up to gain a bigger foothold in the expanding EV market, particularly in the increasingly competitive mid-range sector.