On February 21, Ford Motor, LG Energy Solution and Turkey's Koç Holdings signed a non-binding memorandum of understanding. If the parties can reach a final agreement, a new joint venture will be established to build a new battery factory near Ankara, Turkey. The plant will be one of the largest in Europe for commercial electric vehicle batteries, Ford said.
The new joint venture will be located in an industrial area in Başkent, near Ankara. The project is on track and is expected to break ground later this year, with production scheduled to begin in 2026.
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