Shulou(Shulou.com)11/24 Report--

CTOnews.com, January 9 (Xinhua)-- the battery divisions of Ford Motor Company and SK Innovation have cancelled plans to build an electric vehicle battery plant in Turkey due to rising global interest rates and weak demand for electric vehicles in Europe, according to the Korea Economic Daily.

The two sides are said to have withdrawn the preliminary agreement signed in March 2022. CTOnews.com has reported that the plant was scheduled to start operating in 2025 with an annual capacity of 30 to 45 GWh and is part of Ford's plan to produce 2 million electric vehicles a year by 2026.

Earlier, South Korean media reported that SK On, Ford and Turkish giant Goz holding the new battery plant will land in Ankara, Turkey, and will adopt the design of the Hungarian Ivanjo factory to speed up the construction of the new plant.

If the new Turkish factory adopts the same design as the Hungarian plant, it is expected that the plant may also produce 3060 batteries, which can be used in commercial vehicles such as Ford pick-up trucks, passenger cars and vans.

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