According to Maekyung Business Daily, SK Holdings will form a partnership with Geely Auto (175 HK) in developing eco-friendly vehicles. SK Holdings and Geely will establish a joint fund for eco-friendly vehicle projects. Although the exact amount of the fund (as well as the contributions by each company) is yet unknown, it is reported that this fund is initially likely to be in the range of 300 billion won to 400 billion won (which could be expanded later on). 

Through this joint fund, SK is expected to carry out projects with Geely in various eco-friendly mobility areas such as electric vehicles and hydrogen vehicles. SK Holdings (034730 KS)‘s share price climbed 8.2% today to 355,000 won. SK Holdings’ share price is already up 48% YTD.  

 

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