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

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Photo: Reuters
Photo: Reuters
By 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 US, the Financial Times reported on Sunday.

Electric vehicle: DFML enters into agreement with EGML to manufacture Honri-VE

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.

south korea South Korean electric vehicle SK Chief Executive Lee Seok hee

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