SK Battery America Inc. axes nearly 958 staff at a manufacturing plant northeast of Atlanta.
Opened in January 2022 in Georgia, the US $2.6 billion battery plant notably supplied the Ford F-150 Lightning electric pickup truck.
According to Jeff AmyAlexa St. John’s report in AP, as the electric vehicle market in the USA is at a standstill amid the Trump administration the car makers Ford company announced plans to cancel the fully electric version of the truck in December.
SK and Ford had together previously invested $11.4 billion in joint battery plants in the U.S. The battery maker ended the joint venture in December.
SK and Hyundai are still jointly building a $5 billion battery factory near Cartersville, northwest of Atlanta.
Automakers have been reevaluating their multibillion-dollar electrification plans as financial losses mount and demand shifts.
