SAN FRANCISCO—Ford Motor Co.’s battery joint venture partner, Korea’s SK Innovation, expects the U.S. vehicle industry to face a battery supply shortage until 2025 because of the long lead times to build production facilities, top SK executives told Reuters.
SK Innovation’s battery unit, SK On, is also considering developing lithium iron phosphate batteries (LFP), which have an advantage in cost and thermal stability despite a lower driving range, Kim Jun, chief executive of SK Innovation and Jee Dong-seob, CEO of SK On, said.
