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Ford, LG Energy, Koc Holding team up for Turkish battery cell plant

Reuters

FRANKFURT (Reuters) - Ford, LG Energy Solution and Koc Holding have signed a non-binding agreement to form a joint venture to create one of Europe's biggest electric vehicle battery cell facilities in Turkey, they said on Tuesday.

The agreement comes two weeks after South Korean electric vehicle maker SK On, a unit of SK Innovation Co Ltd, withdrew from the joint venture in which it was meant to be a partner under a deal agreed last year.

(Reporting by Christoph Steitz; Editing by Tomasz Janowski)

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