SK On Targets US Energy Storage Market in Shift From EVs

SK Innovation Co.’s battery unit is in talks with multiple American data center and energy developers to supply batteries for energy storage systems, aiming to secure at least 10 gigawatt-hours of contracts in the US this year.

SK On, which counts Ford Motor Co., Hyundai Motor Co., and Kia Corp. among its customers, has been accelerating production of lithium-iron-phosphate cells widely used in energy storage systems to meet soaring demand from AI data centers and expanding renewable power capacity.