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July 17, 2024

SK, China's Geely partner on EV innovation

PUBLISHED : June 12, 2024 - 17:06

UPDATED : June 12, 2024 - 17:06

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(SK Inc.)

SK Inc., the investment arm of South Korea's SK Group, has announced a partnership with China's Zhejiang Geely Holding Group to advance green mobility initiatives, focusing on electric vehicle batteries and automotive electronics.

This collaboration aims to integrate SK's business development capabilities with Geely's expertise in mobility technology. The partnership was formalized with the signing of a framework agreement Wednesday.

The global networking efforts of Chey Jae-won, SK Group's executive vice chairman, were a significant factor in forming the partnership, SK noted.

Under the agreement, SK and Geely will explore green mobility initiatives, including the development of advanced electric vehicle batteries, enhancing charging infrastructure, and innovating automotive electronics.

Geely, founded in 1986, owns several notable automotive brands such as Zeekr, Volvo and Polestar. Last year, Geely Group reported total vehicle sales of 2.79 million units, with eco-friendly vehicle sales exceeding 980,000 units.

“We see this collaboration as a key opportunity to bolster our position in the global EV and green energy investment portfolios,” said Jang Yong-ho, CEO of SK Inc.

“Working with SK gives us a great opportunity to advance sustainable mobility and offer a better, sustainable vehicle experience to our customers worldwide,” said Geely CEO Li Donghui.

By Moon Joon-hyun (mjh@heraldcorp.com)

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