# Ferrari to expand cooperation with battery supplier SK On
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2024-03-27
Category: Business
Category URL: https://startupobserver.com/category/business/
Meta Title: Ferrari and SK On Expand Cooperation for EV Batteries
Meta Description: Luxury sports car maker Ferrari partners with SK On to advance EV battery technology and develop new possibilities. Stay tuned for their first fully electric model!
URL: https://startupobserver.com/ferrari-to-expand-cooperation-with-battery-supplier-sk-on/

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MILAN (Reuters) – Luxury [sports](https://startupobserver.com/britains-jd-sports-to-buy-frances-courir-in-572-million-deal/) car manufacturer Ferrari has entered a preliminary agreement with its electric-vehicle (EV) battery [supplier](https://startupobserver.com/uk-watchdog-fines-deloitte-over-sig-audit/) SK On on further expansion of their cooperation.

South Korea’s SK On has been supplying [battery](https://startupobserver.com/chinese-ev-battery-maker-catl-unveils-lfp-battery-with-1000-km-range/) cells for Ferrari models since 2019, including for the SF90 Stradale, the carmaker’s first hybrid vehicle, the more recent 296 GTB and 296 GTS, as well as for special series cars.

“We are working together with SK On to explore new frontiers,” Ferrari Chief Executive Benedetto Vigna said in a statement.

Known globally for its high-performance [luxury](https://startupobserver.com/mike-ashleys-frasers-buys-thgs-portfolio-of-luxury-goods-websites/) sports cars, the Italian company has promised its first fully electric model for late next year.

Under the memorandum of understanding announced on Wednesday, the two companies plan to share expertise in respective areas to [expand](https://startupobserver.com/byd-to-introduce-three-more-car-models-to-vietnam-market/) their technological collaboration and exchange valuable insights, SK On said in a separate statement.

“The latest partnership is expected to help SK On and Ferrari explore new possibilities and potential solutions to advance cell technology,” it added.

No further details of the deal were provided.

(Reporting by Giulio Piovaccari; Editing by David Goodman)


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