Chey Jae-won, Executive Vice Chairman of SK Group, said during his visit at CES 2024 that “The development of cylindrical batteries has made considerable progress.” He also mentioned while it is difficult to predict the exact time for the IPO of SK On due to internal and external conditions, the company will propel its listing quickly when the right time comes.

“We are developing three battery form factors (pouch type, square shape, and cylindrical shape) to deal with different specifications demand of each customer,” said Executive Vice Chairman Chey.

He added, “The development of prismatic batteries is already complete, and after a deep thought, we have also developed cylindrical batteries to a considerable level. We will meet our mass production schedule in accordance with customer needs.”

On the forecast of SK On’s turnaround in the fourth quarter of 2023, he said, “The automotive market has been, unfortunately, not favorable, so we’re not sure if the results are going to be at the expected level.” “However, we tried our best. And we are trying to take it as an opportunity to strengthen our internal stability,” he continued.

About SK On’s stock exchange listing, he noted, “We need to consider the financial market, and there are preparations to do, so it’s hard to predict at the moment.” “We will propel the listing as quickly as possible when the time is right.”

In response to a question on his visit to CES 2024, he answered, “I mainly looked at automotive and battery-related technologies, and there were many changes. I can really feel that the industry is changing rapidly.”