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Reading: Ford forms partnership with LGES and Koç Holding for EV battery plant development in Europe
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EV-a2z > News > Ford forms partnership with LGES and Koç Holding for EV battery plant development in Europe
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Ford forms partnership with LGES and Koç Holding for EV battery plant development in Europe

EV-a2zm
Last updated: 2023/02/25 at 11:27 PM
EV-a2zm Published February 22, 2023 3 Min Read
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Ford logo in front of front grill of pick up and light truck. American automobile manufacturer that designs, engineers, produces, markets and distributes vehicles
Ford logo in front of front grill of pick up and light truck. American automobile manufacturer that designs, engineers, produces, markets and distributes vehicles
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American automaker Ford announced on February 21 that it had inked a non-binding memorandum of understanding (MoU) with LG Energy Solution and Koç Holding for a new joint venture to develop one of Europe’s biggest commercial EV battery cell plants.

Contents
About the projectLong-standing partnership

Ford, LG, and KOÇ Holdings to Build Battery Production Facility in Turkey as Part of EV Push in Europe – https://t.co/xPqhBbZ0l9 pic.twitter.com/XdLCYINyYj

— EVMagz – Electric Vehicles Magazine (@evmagz) February 22, 2023

The move is a significant part of Ford’s plan to expand its EV efforts in Europe.

“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.”

Lisa Drake, Ford EV Industrialization VP

About the project

The companies plan to build the EV battery cell plant in an industrial zone in Başkent, near Ankara.

As for the schedule, the companies expect to start construction at the site by the end of 2023. Meanwhile, the three parties have decided to start producing batteries in 2026 with a minimum 25 GWh annual production capacity and a maximum of 45 GWh capacity.

Long-standing partnership

Ford has already established a long-standing partnership with LGES and Koç Holding. LGES has supplied EV batteries for Ford plants for over a decade now. Meanwhile, its partnership with Koç Holding started about a century now, involving the Ford Otosan project.

“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.”

Youngsoo Kwon, LG Energy Solution CEO

Notably, Ford targets 2035 to have a 100% electric fleet and innovative green vehicles in Europe. That said, this joint venture will surely aid its electrification efforts and strongly compete with rival automakers in the highly competitive EV market.

“As Europe’s leading commercial vehicle brand for the past eight years, we want to continue providing our customers with the most efficient and innovative vehicles supporting their business goals through our Ford Pro vehicle services and distribution business. This new battery joint venture is a prime example of how we are leveraging our strategic business relationships to strengthen our business.”

Lisa Drake, Ford EV Industrialization VP

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TAGGED: Electric Vehicle, Europe, EV, Ford, Koc Holding, LG
EV-a2zm February 25, 2023 February 25, 2023
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