Koç Holding made a statement about a year ago that shook the agenda. This is evident from a statement from the company, Ford and the South Korean battery manufacturer SK Ten An agreement was made with Ankara and within the scope of this agreement, a huge battery factory will be established had announced. In the statement made in mid-last year, the scope of the project 32 billion TL will be level it was mentioned. Recent claims suggest the project is worth $3.2 billion, or 60 billion TL at current exchange rates. Of course, if it happens…

The latest news shows that the cooperation plans are about to fall into the water. Korean economic daily newspaperAccording to a news report in SK On, it has decided to withdraw from this partnership. The reason for this decision; It was the war between Russia and Ukraine, the contraction of the European market and global economic conditions. Reportedly, the company has outsourced its work to Europe. moved to the US.

Koç Holding shared a statement on the “Factory has been canceled” news:

Koç Holding shared a statement on the Public Disclosure Platform (KAP) neither confirming nor denying the allegations. “For the realization of battery investments All alternatives are evaluated.The full statement from Koç Holding is as follows:

“With the March 14, 2022 announcement, as part of our continued efforts to explore emerging opportunities in the automotive industry, Ford Motor Company (“Ford”) and SK On Co., Ltd. (“SKO”), a Non-Binding Letter of Intent (MoU) was signed outlining the preliminary intentions of the parties to evaluate cooperation opportunities for Koç Group’s participation in the planned investment in battery production in Ankara.

There was news in the media that the said cooperation was discontinued and many questions and comments were received from our group companies on this subject.

The non-exclusive memorandum of understanding between Koç, Ford and SKO is in effect and there is no change in Ford’s approach to investing in batteries with Koç in Turkey. In this context, all alternatives for realizing battery investments are evaluated.

In the event of a decision having legal effect on the subject matter, appropriate explanations will be provided in accordance with the Capital Markets Board Special Cases Communiqué II-15.1.“

‘Escaped’ statements came from SK On

With the news from Korea Economic Daily on the agenda Bloomberg, wanted to get information from SK On on the subject. In the information shared by Reuters, there is no clear turn We see. SK On’s statement regarding the latest news states that an agreement has been reached with Ford on the establishment of the joint venture in Turkey, but it has not yet decided whether to finalize the agreement by signing the final signatures or to end the negotiations. they have not decided gave up.

In the meantime; your progress think it could be true Let’s talk about one more development. SK On has set up a battery factory in Kentucky, USA in recent months. If this is a 50 percent shareholder of the battery factory fordThat’s right… That’s why the company may have preferred to focus on the US, where the electric car market is steadily growing, rather than investing in Europe, which is shrinking and pressure from Chinese car brands is mounting.

• Sources: Reuters, Korean economic daily newspaper, Bloomberg