LG Energy Solution, Ford, and Koç Holding to Form Joint Venture for Electric Vehicle Battery Cell Facility in Turkey

What’s Happening: LG Energy Solution, Ford, and Koç Holding have signed a non-binding Memorandum of Understanding (MoU) to create a joint venture and build one of Europe’s largest commercial electric vehicle battery cell facilities in Turkey. The project, which will be located in an industrial zone in Başkent, near Ankara, is expected to break ground later this year, and production is intended to start in 2026.

Why It Matters: This joint venture will be critical to Ford’s electric vehicle future in Europe. By partnering with LG Energy Solution and Koç Holding, Ford will have access to world-class battery technology and manufacturing expertise. The move is part of Ford’s plan to offer an all-electric fleet of vans and passenger vehicles in Europe by 2035.

Key Points:

  • The joint venture will create one of Europe’s largest commercial electric vehicle battery cell facilities in Turkey.
  • The project is expected to break ground later this year and start production in 2026.
  • The joint venture will be located in an industrial zone in Başkent, near Ankara.
  • Ford, LG Energy Solution, and Koç Holding have committed to at least 25 GWh of annual production capacity, which could potentially expand up to 45 GWh.
  • This joint venture builds on two long-standing business relationships Ford has with both LGES and Koç Holding.
  • LG Energy Solution has the largest global battery manufacturing network, with manufacturing facilities in six countries and a total annual production capacity of 200GWh.

Bottom Line: This joint venture between LG Energy Solution, Ford, and Koç Holding will be a critical step towards Ford’s electric vehicle future in Europe. The partnership will provide Ford with access to world-class battery technology and manufacturing expertise, strengthening its foundation for a thriving electric vehicle future in the region.

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