LGES, Ford to build joint battery plant in Turkey

• Published date: 28 February 2023
• Publication title: The Korea Times

LG Energy Solution (LGES), Ford, and Koc Holding signed a non-binding memorandum of understanding (MOU) to form a new joint venture, in order to create one of Europe's largest commercial electric vehicle (EV) battery cell facilities near Ankara, Turkey, the firm said Wednesday.

The new joint venture will be located in an industrial zone in Baskent, near Ankara. The project is expected to break ground later this year.

Production is likely to start in 2026 with the three parties committing to at least 25 gigawatt hours (GWh) of annual production capacity, which could potentially expand up to 45 GWh.

"Ford continues to ramp up our electric vehicle plans as we seek to be a leader in the electric vehicle revolution," said Lisa Drake, vice president of 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 Koc Holding will lay a solid foundation 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 Koc 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 Koc 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...