SK On likely to benefit from Virginia's refusal to accommoda

SK On likely to benefit from Virginia's refusal to accommodate CATL

The U.S. state of Virginia cleared a path for Korean electric vehicle (EV) battery manufacturers to expand their presence in the North American market, by refusing Ford Motor's plan to collaborate with China's CATL to build an EV battery plant in the southeastern state, according to industry officials, Wednesday. SK On is particularly seen as the main beneficiary of Virginia Governor Glenn Youngkin's negative stance on the Chinese firm, given that the Korean company has already cooperated with Ford to supply its batteries to the U.S. automaker.

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