Supplying Approximately 20 GWh Over Six Years Starting in 2026
Strengthening Market Presence with U.S.-Based Mass Production System
SK On announced on April 25 that it has been selected as the battery supplier for the U.S. electric vehicle startup Slate.
SK On will supply approximately 20 gigawatt-hours (GWh) of batteries over six years, from 2026 to 2031. This volume is enough to power about 300,000 compact electric vehicles. The two companies have also agreed to expand battery supply volumes by mutual consent if vehicle production increases in the future.
The company plans to launch a two-door electric pickup truck next year, featuring both price competitiveness and unique design. The target price is set at under $30,000. By simplifying the vehicle manufacturing process and design, the company aims to lower the retail price. In fact, the pickup truck will be released in a single color option.
Instead, a DIY (Do-It-Yourself) kit will be available to allow customers to freely customize the vehicle's paint and interior/exterior features according to their preferences and needs. Customers can also install a roof rack or convert the vehicle into a five-seater sport utility vehicle (SUV).
The vehicle will be equipped with SK On's high-nickel nickel-cobalt-manganese (NCM) battery. This product is recognized for its energy density, safety, and performance, and is particularly in high demand in the U.S. market, where driving range per charge is a key consideration.
Battery production will take place at SK On's U.S. plant. Since 2019, SK On has made proactive investments in the U.S. to build factories, and began mass battery production in 2022. By next year, three production bases in the U.S. are scheduled to begin commercial operation (SOP). By the end of 2026, the U.S. plants are expected to account for 50% of SK On's global production capacity (CAPEX).
This partnership is also significant in that SK On's battery supply will now extend to mid- and low-priced vehicle models. Until now, SK On has primarily supplied batteries for premium models. By providing high-performance batteries to a broader range of consumers, the company is expected to further contribute to the popularization of electric vehicles.
Lee Seokhee, CEO of SK On, said, "This collaboration once again confirms the trust in SK On's technological capabilities and mass production capacity in the United States," adding, "The U.S. is a core strategic market for SK On, and we plan to continue supplying high-quality, locally produced batteries to secure a diverse customer base."
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