South Korean battery manufacturer SK On Company Ltd announced this week that it has signed a supply agreement with US-based electric vehicle (EV) startup Slate Auto, strengthening the company’s position as a leading battery supplier to the North American automotive industry.

SK On signed an initial agreement to supply around 20 gigawatt-hours (GWh) of US-made nickel-cobalt-manganese (NCM) batteries to Slate between 2026 and 2031, with an option to increase volumes if required. The batteries will be used to power the automaker’s recently unveiled electric pickup truck.

SK On, a subsidiary of South Korea’s chemicals conglomerate SK Group, has invested heavily to establish a strong early presence in the North American EV supply chain. The company currently operates two battery plants in the US and is building four additional plants in partnership with automakers in the region, including with Ford Motor Company under their Blueoval SK joint venture.

SK On’s CEO, Lee Seok-hee, said in a statement: “The partnership with Slate demonstrates how our US manufacturing capabilities are enabling more effective and flexible support for innovative customers. North America is a key market for us, and we are committed to delivering reliable, high-quality batteries that support our partners in making EVs more accessible, while reducing emissions and advancing sustainable mobility.”

SK On said the partnership with Slate marks the company’s “strategic move into more affordable EV market segments,” having previously focused more on supplying batteries for premium EV models.

Slate’s CEO, Chris Barman, pointed out that his company’s “truck platform is so customizable that it can transform from a 2-seater pickup to a 5-seater SUV.  SK On’s innovative approach and partnership have allowed us to meet our target of delivering a radically affordable vehicle.”