What is the scale and timeline of SK On's battery supply deal with NeoVolta Power, and where will the batteries be manufactured?

SK On has signed a deal to supply U.S. firm NeoVolta Power with 9 gigawatt-hours (GWh) of lithium iron phosphate (LFP) battery cells for energy storage systems over five years starting in 2027; the pouch-type cells will be produced at SK On's factory in Georgia, U.S.

How does this deal fit into SK On's broader strategy for energy storage systems, and what is the total planned cooperation volume with NeoVolta Power?

The deal supports SK On's strategic expansion into the energy storage system business to offset weaker demand for electric vehicle batteries; SK On plans a separate agreement later this year to supply an additional 9 GWh of LFP cells to NeoVolta Power—bringing their total cooperation volume to 18 GWh—and aims to secure more than 20 GWh of global ESS orders in 2024, with talks underway for over 10 GWh more with other U.S. customers.

South Korea's SK On signs energy storage battery deal with US firm NeoVolta Power

Aug 30, 2026

SK On signed a five-year deal to supply 9 GWh of lithium iron phosphate cells to U.S. firm NeoVolta Power for energy storage systems. Total cooperation volume could reach 18 GWh as SK On expands its energy storage business amid weaker EV demand.

reuters

2026-08-30

South Korea's SK On signs energy storage battery deal with US firm NeoVolta Power

South Korea's SK On signs energy storage battery deal with US firm NeoVolta Power

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