Korea-based SK On signed a battery cell supply agreement with the Swedish EV maker Polestar, securing another long-term growth engine in the global battery market. Under the agreement, SK On will supply battery cells to Polestar for its Polestar 5 flagship EV 4-door coupe from 2025.
Polestar 5 is set to produce up to 650 kW (884 hp) and 900 N·m, and is to be built on Polestar’s bespoke bonded aluminum platform.
Polestar said it chose SK On due to battery cell technology that offers high-performing chemistry, fast charging, efficient discharging and superior driving range. Powering Polestar 5 will be SK On’s 56-centimeter-long high-nickel battery cells.
SK On’s NCM9 cell features a nickel content of nearly 90%. The higher nickel content in the NCM9 battery provides better battery output and increased energy efficiency, enabling electric vehicles to achieve high performance. However, the higher nickel content in batteries can lead to issues with battery life and thermal safety, making it necessary to use advanced manufacturing technology to produce the battery.
To mitigate these problems, SK On applied advanced technologies, including its own Z-folding technology. Z-folding technology is a stacking method that intersects and stacks cathodes and anodes evenly between separators in a zigzag shape to achieve a higher level of safety.
In 2021, SK Group invested in Polestar through a New Mobility Fund. The two companies also signed a memorandum of understanding (MOU) to strengthen their collaboration in the field of electric vehicles.