Last week, South Korean battery manufacturer SK On won the Bronze prize for its cobalt-free battery in the Smart Transportation category at the 2024 Edison Awards.
The Edison Awards, named after Thomas Alva Edison, was established in 1987. It is an annual competition honoring excellence in developing new products or services for marketing, design, and innovation.
The Bronze prize for SK On’s cobalt-free battery marks the second consecutive year the company was recognized at the Edison Awards. In 2023, the South Korean battery manufacturer won the Bronze prize for its NCM9 battery.
SK On is working hard to expand its business, especially in North America. In April 2023, SK On and Hyundai announced a $5 billion investment in Bartow County, Georgia, for a battery production facility. The two companies plan to build a 35 GWh battery facility to produce enough cells for 300,000 electric vehicles.
SK On also partnered with Ford to build a $800 cathode plant in Canada. Production in the Canadian plant is expected to start by the second half of 2026.
In January 2024, Volkswagen ID.4 EVs with SK On battery component became eligible for the Inflation Reduction Act’s (IRA) full $7,500 tax credits. The VW ID.4 is among the few electric vehicles eligible for full IRA tax credits.
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