Battery maker SK On declares 'emergency' as EV sales disappoint, FT reports-March 2024-www.financetom.com

Battery maker SK On declares 'emergency' as EV sales disappoint, FT reports

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Battery maker SK On declares 'emergency' as EV sales disappoint, FT reports

Jul 6, 2024 9:45 PM

July 7 (Reuters) - South Korean electric vehicle (EV)

battery producer SK On has declared itself in crisis as its

customers struggle with disappointing EV sales in Europe and the

U.S., the Financial Times reported on Sunday.

Chief Executive Lee Seok-hee announced a series of

cost-cutting and working-practice measures on Monday, describing

them as a state of "emergency management", the report said,

citing a letter to employees.

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