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Insight | November 14, 2023 | 3 minute read

Ford, LG Solution battery plans in Turkey dismantled

The joint venture between Koc Holding, Turkey’s largest industrial conglomerate, US automaker Ford and South Korean battery manufacturer LG Energy Solution to build a battery plant for commercial electric vehicles near Ankara is not going ahead. 

“Considering the current pace of electric vehicle adoption, the timing is not appropriate for a battery cell investment,” Koc Holding said in a filing adding that it would now concentrate on EV production at its Kocaeli plant, a joint venture with the Turkish unit of Ford.  

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