Connect with us


Battery maker SK On declares ‘emergency’ as EV sales disappoint, FT reports




By Reuters | Updated: July 7, 2024

July 7 (Reuters) – South Korean electric vehicle (EV) battery producer SK On has declared itself in crisis as its customers struggle with disappointing EV sales in Europe and the U.S., the Financial Times reported on Sunday.

Chief Executive Lee Seok-hee announced a series of cost-cutting and working-practice measures on Monday, describing them as a state of “emergency management”, the report said, citing a letter to employees.

@ Thomson Reuters 2024