SK On lays off 1,000 workers at US battery plant

Core Viewpoint - SK On Company, a South Korean electric vehicle battery manufacturer, has laid off nearly 1,000 workers at its Georgia plant due to declining demand for electric vehicles following the withdrawal of BEV incentives by the US government [1][3]. Group 1: Job Cuts and Workforce Impact - SK Battery America, the company's US manufacturing subsidiary, has cut 968 jobs, which is approximately 39% of the workforce at the Georgia facility, which had around 2,500 employees [2]. - The layoffs are part of a restructuring effort in response to changing market conditions and a significant slowdown in demand for battery electric vehicles [3]. Group 2: Operational Adjustments and Future Plans - The company confirmed that it is adjusting its operations while maintaining its commitment to building a robust US supply chain for advanced batteries [3]. - The $2.6 billion battery plant began operations in early 2022, supplying batteries for major automotive brands such as Ford, Hyundai, and Volkswagen [3]. - Despite the layoffs, SK On is scheduled to complete construction of a second battery plant in Georgia this year and has plans for another plant in Tennessee by 2028 [4].