The next stage of BlueOval SK, a joint venture between SK On and one of the world's largest carmakers, Ford Motor Company, to produce EV batteries, is about to begin. The two businesses successfully established a joint venture and gained a crucial foothold in the electric vehicle sector. Both businesses recently finished their internal and external reviews as they are ready to start a joint venture. As of July 13, BlueOval SK is a legally recognized company (US local time).