SK on has secured the top position in Fortune’s “Change the World” list, an accolade that recognizes the world’s most innovative companies. This achievement marks the highest-ever ranking for a global battery manufacturer.
On Sept. 27 (local time), Fortune unveiled its list of “2023 World-changing Innovative Companies.” In this prestigious ranking, SK on was jointly recognized as the top innovator alongside prominent names in the automotive industry, including Tesla, General Motors, and electric vehicle charging infrastructure company ChargePoint. Together, they were hailed as “The American Electrifiers,” leading the charge in electrification across the United States.
SK on is the sole South Korean company to be selected as an innovator this year, making history as the first domestic battery manufacturer to earn a place on Fortune’s “Change the World” list of innovative companies.
Fortune cited the reason for SK on’s selection by stating, “The company has jump-started battery manufacturing in the U.S. By 2025, SK on’s factories will produce batteries capable of supplying approximately 1.5 million electric vehicles annually in the United States.”
An SK on spokesperson commented on its top ranking among innovative companies, stating, “This recognition acknowledges our leadership in the North American electrification sector. SK on will continue to create social value through battery technology and products that contribute to environmental improvement.”
SK on plays a crucial role in advancing SK Group’s environmentally friendly initiatives and achieving carbon neutrality goals. Earlier, SK Group Chairman Chey Tae-won said that SK Group should contribute to reducing approximately 200 million tons of carbon emissions, roughly 1 percent of the global carbon reduction target of 21 billion tons by 2030.
Since 2015, Fortune has been annually publishing a ranking of about 50 innovative companies by assessing their positive impact on society and the environment alongside their business performance and innovation. This year, out of approximately 250 candidates, a total of 59 companies were selected as innovative companies. Among these, seven are from Asia, including SK on. The list also includes globally recognized companies such as Walmart, which ranked 3rd; Apple, ranked 15th; and Microsoft, ranked 24th. In previous years, Sweden’s Northvolt held the 8th position in 2022, and China’s BYD ranked 3rd in 2019.