Ford Motor, SK Innovation announce EV battery joint venture in N. America

FILE PHOTO: A visitor is reflected as he takes pictures of a new Ford Aspire car during its launch in New Delhi, India, October 4, 2018. Picture taken October 4, 2018. REUTERS/Anushree Fadnavis

DETROIT (Reuters) -Ford Motor Co and South Korean battery maker SK Innovation on Thursday announced they will form a battery joint venture in North America to support the No. 2 U.S. automaker's electric vehicle rollout.

The companies said they have signed a memorandum of understanding (MOU) for the formation of the venture, called BlueOvalSK. Reuters on Wednesday reported plans for the joint venture.