/ Courtesy of SK On
On November 13 (local time), the Georgia Economic Developers Association announced that the joint battery plant project of SK On and Hyundai Motor Group has been honored with the prestigious "Deal of the Year" award in the Large Community category.
The association, which initiated the "Deal of the Year" award in 2008, annually selects nominees based on their economic impact on the state of Georgia, as well as the complexity and expertise required to finalize contracts.
The two companies had earlier disclosed their collaborative investment of USD 5 billion (approximately KRW 6.5 trillion) to construct a 35 GWh battery production plant in Bartow County, Georgia. With a targeted operational commencement set for the second half of 2025, this project signifies a significant economic endeavor.
SK On, having received the "Deal of the Year" award for the second time, previously secured the honor in the Mid-size Community category in 2019 for its battery production plant, "SK Battery America," located in the city of Commerce.
Playing a crucial role in establishing the electric vehicle (EV) industry belt in the southeastern region of the U.S., SK On has been a key player in reshaping the battery production landscape. Commissioner Pat Wilson from the Georgia Department of Economic Development highlighted SK On's pivotal role, stating, "SK Battery America was the first mover when it comes to the creation of an American battery facility." He emphasized that SK's facility opening marked the beginning of what is now evolving into an entire ecosystem for battery production in the U.S.
In addition to this recent accolade, SK On was recognized last month for its leadership in electrification in North America, securing the top position in the "Change the World" list of innovative companies curated by the American economic magazine Fortune.
Currently operating two battery production plants in Georgia, SK On is actively involved in the construction of a joint plant with Hyundai Motor Group. Moreover, the company is simultaneously engaged in building three additional battery plants, two in Kentucky and one in Tennessee, in collaboration with Ford Motor Company. The completion of these plants in 2025 is expected to catapult SK On's battery production capacity in the U.S. to over 180 GWh.
