Turkey / USA / South Korea – Ford Motor Co, based in Dearborn, Michigan, USA, SK On Co Ltd, based in Seoul, South Korea, and Koç Holding, based in Istanbul, Turkey, have signed a memorandum of understanding for a new joint venture in Turkey. The proposed JV would lead to the creation of one of the largest commercial vehicle electric battery facilities in the European region.
The joint venture would be located on a site near Ankara and will manufacture nickel NMC (Nickel, Manganese and Cobalt) cells for assembly into battery array modules. Production is intended to start as early as mid-decade with an annual capacity likely to be in the range of 30-45 Gigawatt hours. The investment from the three parties includes significant support from the Turkish government.