Did Ford cancel the factory project in Turkey? A statement came from Koç Holding!

The developments in the electric car world continue to be maintained in our country as well. Ford, one of the most important names in the automobile world, was planning to establish a factory for battery production in Turkey. However, the latest news shows that there are question marks in the project.

Ford and SK On: “We haven’t decided yet for the factory to be established in Turkey”

In March last year, Koç Holding announced that it would establish a battery production facility in Turkey by collaborating with Ford and South Korean battery manufacturer SK On. SK On issued a statement regarding the factory to be established in Ankara.

We were discussing the joint venture case in Turkey after signing the Memorandum of Understanding in March 2022, but the negotiations were not completed. The final decision on whether to halt negotiations on the joint venture has yet to be made.

The factory, which is planned to be produced, is expected to be worth 3.2 billion dollars. The parties to the agreement said that production would start in 2025. The factory is targeting an annual production capacity of 30-45 gigawatt hours (GWh). But right now these are just parts of a plan that seems hard to come by. As for the possible cancellation of the project, it is the same reasons as the problems experienced by giant companies in general.

Ford Focus and Fiesta are out of sale!  Here is the date

Ford Focus and Fiesta are out of sale! Here is the date

Ford Focus and Fiesta, one of the most popular passenger cars in Turkey and the world, are going out of sale! Here is the history…

The war between Russia and Ukraine, which started in February of last year, has upset the balance in the whole world. Due to the effects of the coronavirus epidemic and pandemic process, which started with 2020, on the economy, many companies are going to postpone their projects. Considering the current economic conditions in Turkey, it is stated that Ford and SK On have turned their direction from Europe to America. However, Koç Holding immediately took a step on the matter.

Koç Holding: “Nothing has changed yet”

Koç Holding made a statement regarding the situation. The company stated that there was no change in the situation. In addition, he stated that necessary steps will be taken in a possible cancellation decision. Here is the text of the statement made by Koç Holding;

There were some news in the media that the said cooperation was abandoned, and our Group companies received many questions and comments on the subject. The non-exclusive MoU signed between Koç, Ford and SKO is in effect, and there is no change in Ford’s approach towards making battery investments in Turkey with Koç. In this context, all alternatives for the realization of battery investment are evaluated. In case of a decision that has legal consequences on the subject, necessary explanations will be made in accordance with the Capital Markets Board’s Communiqué on Special Cases II-15.1.

source site-29