ANKARA, Turkey – Ford Motor Co., LG Energy Solution and Koç Holding announced they’ve signed a non-binding Memorandum of Understanding to form a new joint venture to create one of Europe’s largest commercial electric vehicle battery cell facilities near Ankara, Turkey.
The new joint venture will be located in an organized industrial zone in Başkent, near Ankara, Turkey’s capital. The project is expected to break ground later this year, with production intended to start in 2026 with the three parties committing to at least 25 gigawatt hours of annual production capacity, which could potentially expand up to 45 GWh.
“Ford continues to ramp up our electric vehicle plans as we scale to be a leader in the electric vehicle revolution,” said Lisa Drake, vice president, Ford EV Industrialization. “We are delivering on the commitment to produce batteries in the same region where we build electric vehicles. Establishing the new joint venture with LGES and Koç Holding will lay a solid foundation that is fundamental to building a thriving electric vehicle future for Ford in Europe.”
This joint venture builds on two long-standing business relationships Ford has with both LGES and Koç Holding. Ford and LGES have worked together for over a decade, with LGES most recently supplying batteries from its plant in Poland for the Ford Mustang Mach-E and E-Transit. Ford Motor Company and Koç Holding enjoy a strong relationship that stretches back almost a century and includes the successful Ford Otosan joint venture, now over 60 years old.
“Our long-time business relationship with Ford is the result of our commitment to deliver unmatched product competitiveness, stable yields, and global operational expertise, made possible by our extensive knowledge accumulated through pre-emptive investments in global markets,” said Youngsoo Kwon, CEO of LG Energy Solution. “Now joining forces with Ford and Koç in Turkey, we will bring in our leading battery technology to further boost the EV transition in Europe, thereby leading the global initiatives for a more sustainable future.”
In a statement Koç Holding said: “We deeply feel the pain of the terrible earthquake disaster that occurred on February 6. As Koç Group, we mobilized all our resources for our country. We believe that investments such as this major one will play a crucial role in overcoming this extraordinarily difficult period. In this respect, we underline our determination to implement this investment facility with two global companies which will bring our country a significant global competitive advantage in the automotive industry. We express our condolences to our nation and truly believe that we will overcome these difficult times with unity and solidarity.”
By 2035, Ford in Europe will offer an all-electric fleet of vans and passenger vehicles, new generation of zero-emission vehicles, optimised for a connected world, offering customers truly outstanding, always-on services and user experiences.