Ford, LGES And Koc Scrap Battery Cell JV Factory Plan In Turkey

Ford, LG Energy Solution , and Koc Holding's joint venture EV battery cell factory near Ankara, Turkey will not materialize due to market uncertainty. Ford's long-term partner, Turkey's Koc Holding, announced that it has revoked an earlier agreement to build the battery plant for commercial electric vehicles, which are produced locally.

' If the market conditions improve, the parties will evaluate potential battery cell investments in the future. It's another worrying sign that the EV market will not expand as quickly as manufacturers initially anticipated a few years ago. Ford has produced the Ford E-Transit model in Turkey since 2022 and soon is expected to start production of an electric version of the next-generation Transit Custom , as well as some ICE and EV vans for the Volkswagen Group.

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