Koç Holding announced that it has signed a letter of intent for the battery production facility to be established in Ankara, in a statement to the Public Disclosure Platform today. The Holding announced that the purchase of the batteries to be produced by Ford Otosan will also be evaluated.
While batteries have a great place in an electric and sustainable future, the investments made in this field have already started to bear fruit around the world. Today, an important announcement came from Koç Holding, Turkey’s largest holding. Koç Holding made a statement to the Public Disclosure Platform regarding the participation of Koç Group in the battery production investment in Ankara. Letter of intent on Ford and SKO partnership announced the signing.
According to the statement shared by the Holding, battery production, which is planned to be realized together with the partnership, will start in 2025 with an annual capacity of 30 – 45 Gigawatt hours. With the achievement of the target, in order to use the batteries in the production of new generation Transit vehicles. The subject of its sale to Ford Otosan A.Ş. will be evaluated.
It will be one of the largest production facilities in Europe
According to the announcement shared by Ford, SK On Co., Ltd. The battery production facility, which was followed by a letter signed between Koç Holding and Koç Holding, will be one of the largest commercial automobile battery production facilities in Europe.
However, the manufacturing facility will also benefit large and small business customers in Europe by reducing ‘operating costs’, helping them meet their environmental goals, according to a statement shared by Ford.
Description of Koç Holding
“As part of our ongoing work to examine emerging opportunities in the automotive industry, Ford Motor Company (“Ford”) and SK On Co., Ltd. (“SKO”), a non-binding Letter of Intent (MoU) was signed, containing the preliminary intentions of the parties, in order to evaluate the cooperation opportunities for Koç Group’s participation in the battery production investment planned to be realized in Ankara. Batteries to be produced within the scope of the project to be used in the production of new generation Transit vehicles. The sale of our business partnership to Ford Otosan A.Ş. is also under consideration. In accordance with the MoU, it is aimed to start production in 2025 with an annual capacity of 30-45 Gigawatt hours, if agreed by the parties.
Koç Holding was brought to the agenda with another news today. Ford Otosan, owned by the holding, announced that it had purchased Ford Romania. After these two big news, both Koç Holding and Ford Otosan share value respectively. 5% and more than 8% increase took place.
Source :
https://media.ford.com/content/fordmedia/feu/en/news/2022/03/14/battery.html