Overview

• SK On will provide 20 gigawatt-hours of high-nickel NCM batteries to Slate over five years, supporting the production of its sub-$20,000 electric pickup truck.
• The batteries will be manufactured in SK On’s U.S. plants in Georgia, Tennessee, and Kentucky, emphasizing localization to reduce costs and bypass tariffs.
• The supply volume is estimated to be sufficient for approximately 300,000 mid-size electric vehicles, with an option to increase orders as Slate scales production.
• Industry estimates value the contract at around 4 trillion won (US$2.78 billion), though exact financial terms have not been disclosed.
• This partnership highlights SK On’s strategic focus on the North American market and Slate’s ambition to disrupt the affordable EV segment with customizable vehicles.