SK Group, South Korea’s second largest conglomerate and Zhejiang Geely Holding Group (Geely Holding) has signed a strategic cooperation agreement covering multiple areas including batteries, automotive electronics components, and green energy. The move comes as part of both company’s strategy to secure global competitiveness in the green mobility sector.

SK Inc., the strategic investment holding company of SK Group, signed a framework agreement for strategic cooperation with Geely Holding on June 11th.

Founded in 1986, Geely Holding is a globally leading mobility technology enterprise which owns and manages a number of automotive brands around the world. In 2023, total aggregate sales for the brands under Geely Holding reached 2.79 million units, with sales of electrified and new energy vehicles exceeding 980,000 units.

Through the agreement, SK and Geely Holding plan to explore cooperation opportunities in the eco-friendly mobility sector including EV batteries, EV charging infrastructure and automotive electronics components. The two groups also plan to seek collaborations in various areas including green energy.

Daniel Li, CEO of Geely Holding Group said: “Geely’s cooperation with SK is part of our commitment to working with global partners in transforming and improving industries in a sustainable direction. Through this partnership, we give full play to our respective advantages and provide global consumers with a better greener mobility experience.”

Jang Yong-ho, President of SK Inc. said: “Through this partnership, the two groups are expected to lead global electric vehicle and eco-friendly energy markets and build a strong foothold in the future mobility sector.”