SK On, a subsidiary of South Korea's SK Group, has been chosen as the battery supplier for the American electric vehicle startup Slate. Under the agreement, SK On will deliver 20 gigawatt-hours of batteries to Slate from 2026 to 2031, with an option to increase supply as production expands. These batteries are expected to power approximately 300,000 mid-sized electric vehicles.
While financial details of the contract remain undisclosed, industry estimates value the deal at around 4 trillion won, or approximately $2.78 billion. Founded in 2022 and based in Michigan, Slate is an EV startup backed by Amazon founder Jeff Bezos. The company plans to launch its first electric pickup truck next year, with a target price below $30,000.
