By Diplomacy Journal Lee Kap-soo

SK On, a leading global electric vehicle battery manufacturer, announced on March 27 that it signed a memorandum of understanding (MoU) with Italian luxury sports carmaker Ferrari to reinforce their partnership and lead innovation in cell technology.

SK On Chief Executive Officer Lee Seok-hee, Ferrari Chief Executive Officer Benedetto Vigna, Ferrari Chief Research and Development Officer Ernesto Lasalandra, SK On Chief Commercial Officer Sung Min-suk and SK On Chief Technology Officer Rhee Jang-weon were among the attendees at the MoU signing ceremony at SK Seorin Buliding in Seoul on March 26.

Under the MoU, the two sides plan to share expertise in respective areas to expand their technological collaboration and exchange valuable insights. The latest partnership is expected to help SK On and Ferrari explore new possibilities and potential solutions to advance cell technology.

SK On, currently the only battery supplier to Ferrari, has been providing battery cells for Ferrari’s most powerful models since 2019, starting with the marque’s first-ever range supercar and Plug-in Hybrid Electric Vehicle (PHEV), the SF90 Stradale, and its open-top variant, the SF90 Spider. SK On’s batteries also have been powering the 296 GTB and the 296GTS PHEVs that were launched in 2021 and 2022, respectively.

“We are excited to join Ferrari’s electrification journey,” said Lee Seok-hee, CEO of SK On. “Combining expertise and technologies from the two companies, we expect to provide customers with new experiences and values.”

“When companies and suppliers come together, collaboration powers common progress,” said Benedetto Vigna, CEO of Ferrari. “We are working together with SK On to explore new frontiers and fuel the energy of shared ideas.”