Ford Motor Company, LG Energy Solution and Koç Holding have recently signed a non-binding MoU to form a new joint venture to create one of Europe's largest commercial electric vehicle battery cell facilities near Ankara, Turkey, to strengthen the foundation for Ford's electric future of commercial vans and passengers vehicles in Europe.
The new joint venture will be located in Başkent, near Ankara. The project is on track and expected to break ground later this year, according to the automaker. Production is intended to start in 2026 with the three parties committing to at least 25 GWh 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. 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," said Lisa Drake, vice president, Ford EV Industrialization.
This joint venture builds on long-standing business relationships Ford has with both LGES and Koç Holding. Ford and LGES have worked together for more than 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, on the other hand, enjoy a strong relationship that stretches back almost a century and includes the successful Ford Otosan joint venture, established more than 60 years ago, in Turkey.
"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", Kwon added.
By 2035, Ford has vowed to offer an all-electric fleet of vans and passenger vehicles with advanced battery range and connected technologies in Europe.