South Korea's SK Innovation is expanding its global battery production capacity.
The company said Tuesday that it will invest another 4.3 billion U.S. dollars to build more plants in the U.S. with Ford.
SK Innovation said such a large investment reflected the growing number of batteries needed in its joint venture with the American auto giant.
In May, the companies signed an MOU for a joint venture dubbed "BlueOvalSK" to manufacture battery cells in a bid to lead the U.S. electric vehicle market.
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