Ford Motor Company, an American multinational automobile manufacturer, and SK Innovation, an intermediate holding company of SK Group, agreed to form a joint venture in an $11.4bn deal. "This is a transformative moment where Ford will lead America’s transition to electric vehicles and usher in a new era of clean, carbon-neutral manufacturing. With this investment and a spirit of innovation, we can achieve goals once thought mutually exclusive – protect our planet, build great electric vehicles Americans will love and contribute to our nation’s prosperity," Bill Ford, Ford Executive Chair.