SK On secured a 4 trillion won ($3 billion) contract to supply batteries to U.S. electric vehicle startup Slate, expanding its footprint in the North American market. The deal will provide approximately 20 gigawatt-hours of high-nickel NCM batteries from 2026 to 2031, powering Slate’s innovative customizable pickup truck set to launch next year.
The Michigan-based startup, backed by Amazon founder Jeff Bezos, plans to target budget-conscious consumers with a two-door electric pickup truck priced below $30,000. According to industry sources, Slate’s vehicle can transform from a two-seat pickup to a five-seat SUV through modular design elements.
“We’re not just a car manufacturer but a truck platform that maximizes customization,” Slate CEO Chris Barman said at the vehicle unveiling in Long Beach, California on April 24. SK On chief Lee Seok-hee attended the event, where he emphasized the deal’s strategic importance for his company.
The contract represents another significant win for SK On, which recently secured a larger 15 trillion won battery supply agreement with Nissan last month. The Korean manufacturer, which split from SK Innovation in 2021, operates two battery plants in Georgia and is building four additional facilities through joint ventures with Ford and Hyundai.
Slate’s base model will feature a 52.7-kWh battery providing approximately 150 miles of range, with an optional 84.3-kWh battery extending range to 240 miles. Despite its minimalist approach, including manual windows and steel wheels, the vehicle will include essential safety features.
