Ford recently reached an agreement with Koç Holding and LG Energy Solution to establish a joint battery manufacturing facility. The battery factory to be established will be the largest in Europe.
Ford, Koç Holding and LG Energy Solution signed a memorandum of understanding to establish a joint venture the other day. The deal includes Europe’s largest commercial battery manufacturing facility near Ankara. It is aimed that the new battery factory to be established will make a great contribution to Ford’s electric car transformation.
The foundation of the Factory Will Be Laid This Year
The giant battery factory to be established by Ford, Koç Holding and LG Energy Solution will be located in the organized industrial zone of Ankara. However, the foundation of the factory is expected to be laid this year. The plant will provide at least 25 GWh of annual production capacity, potentially up to 45 GWh when completed. This capacity makes it Europe’s largest battery manufacturing facility. Meanwhile, production is expected to start in 2026. Approximately three years after the factory started production, in 2029, the production capacity will be increased by 20GWh to 45 GWh.
Ford states that the battery factory to be established in Ankara is of critical importance for the company’s electric cars and future plans in Europe. Ford also states that they have a deep-rooted history with Koç Holding and a strong relationship with the successful Ford Otosan joint venture, which was established more than 60 years ago.
Youngsoo Kwon, CEO of LG Energy Solution, said, “Now in Turkey, we will join forces with Ford and Koç to deploy our leading battery technology to further accelerate the electric car transition in Europe, thereby leading global initiatives for a more sustainable future. We will.” used the phrases.
Koç Holding, in its statement, said that this investment will provide an advantage for Turkey in terms of global competition: “We deeply feel the pain of the terrible earthquake that took place on February 6th. As Koç Group, we have mobilized all our resources for our country. We believe that such large investments will play a crucial role in overcoming this extraordinarily challenging period. In this regard, we underline our determination to implement this investment facility, which will bring a significant global competitive advantage to our country in the automotive industry, with two global companies. We express our condolences to our nation, and we sincerely believe that we will overcome these difficult days with unity and solidarity.”