SEOUL :South Korea’s SK On said on Thursday it has signed a deal with U.S.-based Flatiron Energy Development to supply lithium iron phosphate (LFP) batteries for energy storage systems (ESS).
SK On, which supplies automakers including Hyundai Motor, Kia Corp and Ford Motor, said it will supply up to 7.2 gigawatt hours (GWh) of ESS batteries between 2026 and 2030.
The company did not disclose the value of the contract.
The company said in a statement that it will begin mass production of ESS-dedicated LFP batteries in the second half of next year, adding that it plans to convert some of its electric vehicle (EV) battery production lines in Georgia for ESS use.
