Article

Ford Motor Co. and SK On plan to end their $11.4 billion battery joint venture, BlueOval SK, in December 2025. This decision is part of a broader business strategy to adapt to fluctuations in the electric vehicle market and to address the rising demand for battery energy storage systems (BESS). The move comes in response to a slowdown in demand for battery-electric vehicles and the expiration of government incentives under the Inflation Reduction Act.