Hyundai and SK On Establish Battery Factory in USA!

There is an issue in Turkey that we have been talking about for a while, but which could not be implemented. This matter Koç HoldingThe electric car that ‘s wants to install in Turkey through Ford Otosan battery factory. In the first statements made on the subject, it was announced that Koç Holding signed a letter of intent with a company called SK On. According to the statement made through the Public Disclosure Platform, the factory in question to be established in Ankara and it would become one of Europe’s largest battery manufacturing facilities.

This project was very important because it will provide added value to Turkey and a huge investment would cause. In fact, Koç Holding, in the statement it made at that time, for this factory. 32 billion TL He said he would spend it. However, after a while after all these statements, remarkable news came from South Korea. According to the news that was allegedly served in those days, SK On, gave up on Turkey and he had turned towards the USA. About a month after this claim, a new move came from Koç Holding. The company this time agreed with LG announced.

With SK On, Hyundai took action to establish a battery factory in the USA!

As we continue our search for partners,The one who took the horse passed Üsküdar.“There was a development that confirmed the promise. Hyundai and SK On reached an agreement and to manufacture batteries in the USA they rolled up their sleeves. According to the news from the USA, the companies that chose the state of Georgia for the factory have already laid the foundation of the factory. The factory, which will emerge as a result of an investment of 5 billion dollars, As of 2025 will start serving.

Batteries will be produced for Hyundai, Kia and Genesis branded electric cars.

The factory to be established by Hyundai and SK On, HyundaiIt will produce batteries for the IONIQ 5, 6 and 7 (SUV) models. Also, Hyundai’s luxury brand Genesiswith the GV70 model of Kia The EV6 and EV9 will also be powered by batteries from this factory.

But there is something more important than all this!

At the beginning of our news, Koç Holding’s partnership with LG have signed a letter of intent we transferred. Here is a situation that will lead to the cancellation of this letter of intent. Hyundai wants to establish 2 additional battery factories in the USA. If these two facilities are established, batteries will be produced for 1 million electric cars produced in the USA. So what does this have to do with Koç Holding? Hyundai is in talks with LG to set up additional factories. If this agreement is reached, the electric car battery factory in Turkey may be completely unrealistic.