SK On to Open Tokyo Office for Japan EV Market Expansion

Gate News message, April 22 — South Korean battery maker SK On announced plans to open a Tokyo office this month as its fourth global base, targeting expansion in Japan’s electric vehicle and energy storage markets.

The move comes as Japan ramps up EV support, with maximum subsidies reaching 1.3 million yen (US$8,200) and first-quarter passenger EV sales surging 80% year-on-year to a record 26,959 units. SK On has already deepened ties with Japanese automakers, signing a 15 trillion won (US$10.2 billion) supply deal with Nissan last year to provide 99.4 gigawatt-hours of batteries for North American models from 2028 to 2034.

The Tokyo office positions SK On to capitalize on Japan’s push to build a domestic battery supply chain, with up to US$2.4 billion allocated for local production projects. The expansion also reflects broader efforts to apply battery technology beyond vehicles, supporting grid stability as renewable energy adoption accelerates.