News > South Korean battery maker SK On to cut jobs amid challenging EV market
South Korean battery maker SK On to cut jobs amid challenging EV market
The Economic Times | 26/09/2024 07:11 PM | Click to read full article
SK On said it plans to introduce voluntary redundancy programmes to its workforce to improve efficiency and remain competitive in a challenging electric vehicle market. SK On supplies EV batteries to Ford Motor, Hyundai Motor, Volkswagen and others. Ford, General Motors, and other car makers have delayed or cancelled new electric models to avoid spending heavily on vehicles that consumers are not buying as quickly as anticipated.
