SK On, a leading electric vehicle (EV) battery manufacturer, announced today it has signed a battery cell supply agreement with the Swedish EV maker Polestar, securing another long-term growth engine in the global battery market.
Under the agreement, SK On will supply battery cells to Polestar for its flagship EV 4-door coupe, Polestar 5 from 2025.
With production planned to start in 2025, Polestar 5 is a luxurious four-door GT (Grand Tourer) model from the all-electric Swedish marque. Polestar 5 is set to produce up to 650 kW (884 hp) and 900 Nm, and is to be built on Polestar’s bespoke bonded aluminium platform.
Powering Polestar 5 will be SK On’s ultra-long high-nickel batteries comprised of 56-centimeter-long cells. In particular, these batteries, boasting high energy density, demonstrated superb safety credentials by successfully passing stringent conditions in Thermal Propagation (TP) tests.
“We are delighted to collaborate with Polestar on its top-tier EV model,” said SK On CEO Jee Dong-seob. “We will solidify our partnership with Polestar and create new opportunities through this agreement.”
Thomas Ingenlath, Polestar CEO, said “Our relationship with SK On has been fruitful following our initial MOU and their investment in our brand. Polestar 5 is developing at pace and will feature this high-capacity battery to provide the performance expected of our grand tourer.”
In 2021, SK Group invested in Polestar through a New Mobility Fund. The two companies also signed a memorandum of understanding (MOU) to strengthen their collaboration in the field of electric vehicles.