SK On and Ford agreed to dissolve their $11 billion BlueOval SK battery joint venture, splitting ownership of three U.S. plants as both companies adjust to slowing EV demand. Ford will take over two Kentucky factories, while SK On assumes full control of the Tennessee plant and plans to supply batteries to Ford and other customers.
SK On signed an agreement with Colorado-based Westwater Resources to co-develop anode materials, the key component in making electric vehicle batteries.
Under the three-year agreement,...