SK On, Ford and Koc End MOU on Battery Joint Venture in Turkey

SK On, Ford and Koc Group of Turkey announced on Feb. 7 that their non-binding MOU on the establishment of an electric vehicle (EV) battery joint venture ended after its start in March last year.

Ford and Koc Holding said that they are still working on a plan as to EV battery production in Turkey and details will be announced in the future.

“SK On is still an important partner, the company is supplying a large amount of batteries to Ford in Hungary and the U.S. state of Georgia, and our joint venture is building plants in Kentucky and Tennessee for important projects,” Ford said.