SK On CEO Implements Urgent Measures Amid EV Sales Slump

SK On, a prominent South Korean electric vehicle (EV) battery manufacturer, is currently encountering difficulties due to the sluggish sales of EVs in key markets such as Europe and the U.S. In response to this crisis, the company's Chief Executive, Lee Seok-hee, has swiftly implemented a series of urgent cost-cutting measures and operational changes.

In a letter to the employees, Lee Seok-hee described these actions as 'emergency management' aimed at tackling the current challenges arising from the lower-than-expected sales of EVs in major regions. The company's proactive approach underscores its dedication to navigating through tough times and ensuring its sustainability in the competitive EV battery market.

By introducing cost-cutting measures and operational adjustments, SK On is strategically positioning itself to overcome the existing obstacles and emerge stronger in the future. This proactive stance reflects the company's commitment to adapting to market dynamics and securing its position in the evolving EV industry.

SK On's response to the challenging situation demonstrates its resilience and determination to thrive in a competitive market environment. Through swift actions and strategic decisions, the company is paving the way for a sustainable future, emphasizing the importance of adaptability and innovation in the face of adversity.