Ford to build giant battery plant – TopAuto
logo
Latest News
Follow
Saturday / 25 June 2022
HomeNewsFord to build giant battery plant

Ford to build giant battery plant

Ford’s Turkish partner will join forces with the U.S. automaker’s battery venture to build one of the world’s largest battery plants by 2025.

Koc Holding, Turkey’s biggest conglomerate, signed an initial accord to be part of the joint venture between Ford and South Korea’s SK Innovation to make electric car batteries, according to public filings by the companies.

The plant is part of a push by Ford to produce 2 million electric vehicles a year by 2026.

Demand for its first electric vehicles is emboldening the automaker to ramp up production and raise sales expectations.

Its Turkish partnership with Koc expects batteries produced at the new plant in Ankara, Turkey’s capital, to power models including Ford’s Transit commercial vans.

The project is “the first in a number of significant electrification and commercial vehicle announcements we will make this year,” said Stuart Rowley, Ford Europe’s chairman.

The companies didn’t say how much investment will go into the Ankara plant, which will have capacity to build 30 to 45 gigawatt-hours of batteries.

Ford and SK On, an SK Innovation unit, announced plans last year to spend $11.4 billion (R172 billion) to construct three battery factories and an assembly plant for electric F-Series pickups in Tennessee and Kentucky, the biggest investment in the U.S. automaker’s history.

Tags

Share

Show comments