South Korean electric vehicle (EV) battery maker SK On Company has laid off nearly 1,000 workers at its battery manufacturing plant in the US state of Georgia, according to local reports citing a company document, amid a slowdown in demand for electric vehicles in the country following the US government’s withdrawal of battery electric vehicle (BEV) incentives last year.
The company’s U.S. manufacturing subsidiary, SK Battery America, has reportedly cut 968 jobs at its battery plant in Commerce, Georgia, representing about 39% of the facility’s workforce of about 2,500 employees.
SK On confirmed that the restructuring is a response to changing market conditions, including a sharp slowdown in demand for battery electric vehicles (BEVs), and that the company has decided to “adjust its operations while maintaining its commitment to building a strong US supply chain for advanced batteries.”
The $2.6 billion battery plant began operations in early 2022 and will supply batteries for Ford’s F-150 Lightning pickup truck, as well as Hyundai and Volkswagen. The company has been affected by the cancellation of production plans by its customers, amid falling demand for BEVs in the country.
SK On is scheduled to complete construction of a second battery plant in Georgia this year to supply Hyundai, and an additional plant in Tennessee is scheduled to be completed in 2028.
“SK On lays off 1,000 workers at US battery plant” was originally created and published by Just Auto, a brand owned by GlobalData.
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