Polestar and SK Inc sign Memorandum of Understanding
Electronic production | June 14, 2021
Swedish performance electric car company Polestar is exploring a wide-ranging alliance with SK Inc, South Korea’s third-largest industrial holding company, to advance its development of high-performance electric cars.
The two companies have signed a Memorandum of Understanding (MoU) to assess possible collaboration in areas such as electric vehicle battery technology and associated systems as well as semiconductor technology. The scope will also include potential business opportunities such as supplying batteries for future vehicles, a press release says. The two companies will now conduct technical feasibility, sustainability and cost studies for each area to assess the potential for partnership. Polestar hopes to provide more details on the outcome of these talks in the future. “The two words that unite Polestar and SK are ‘performance’ and ‘sustainability’,” said Thomas Ingenlath, CEO of Polestar in the press release. “With this MoU, we can assess the advisability of jointly developing battery technology for high performance cars and other commercial offerings, with a focus on supporting our important global growth plans.” “We see Polestar’s growth potential and look forward to evaluating possible collaborations in what will be an exciting journey,” added Dong Hyun Jang, CEO of SK Inc.