Koç Holding signed a non-binding Memorandum of Understanding (MoU) with US-based Ford Motor Company and S.Korean SK On Co. Ltd. (SKO) to explore collaboration opportunities for the production of electric commercial vehicle batteries in Ankara, according to the press release on March 13.
The production is expected to start in 2025, with a total annual capacity of 30-45 Gigawatt hours, once an agreement is reached between the parties.
The MoU also includes the evaluation of sales of electric commercial vehicle batteries to Ford Otosan to be used for production of next-generation Transit vehicles.
Commenting on the MoU, Koç Holding Vice Chairman and Ford Otosan Chairman Ali Y. Koç said, “In a period of extraordinary challenging conditions in the world, we are working with all our strength, with all our belief in Türkiye, and we are announcing the largest automotive investments in our history one after the other, and we are leading the transformation of the automotive industry in our country,” and noted the MoU will go down in history as the first step of an investment that will provide Türkiye with a very important global competitive advantage.
