The consortium between Ford and Otosan announced a record investment of 2 billion euros to produce electric cars and batteries.
Ford Otosan, the consortium formed by the American multinational Ford and Koç Holding – Turkey’s largest industrial holding company – announced today a record investment of 2 billion euros that will go to the manufacture of batteries and electric commercial vehicles at its plant in Kocaeli, and that represents the largest investment in the history of the automotive industry in the Eurasian country.
The invested capital will make the Ford Otosan factory in Gölcük (Kocaeli) the first and only integrated electric vehicle production centre that will also produce car batteries, said during a ceremony in Ankara the vice president of Koç Holding, Ali Koç, who highlighted that this represents the largest investment ever made in the Turkish automobile industry.
During a meeting in Ankara with Koç and with Ford’s president for Europe, Stuart Rowley, Turkish President Recep Tayyip Erdoğan highlighted the importance of the announced investment, assuring that it will contribute to boost the technology of electric vehicles and batteries in Turkey. “Turkey will become the largest production centre for electric commercial vehicles,” Erdoğan stressed.
Ford’s electric vehicle and battery plant to open in 2022
The Turkish president pointed out that the investment will serve to increase the annual production capacity of Ford Otosan from the current 440,000 vehicles to 650,000 per year; Erdoğan further added that the automaker will also produce a one-ton commercial vehicle for Volkswagen as part of a cooperation agreement between the two corporations.
Ford Otosan is slated to open its electric car battery manufacturing plant in 2022, with an expected production capacity of 210,000 commercial electric vehicles and 130,000 batteries per year.
With what is the largest investment in the history of the automotive industry in Turkey, Ford joins the car electrification technology and investment plans in this sector initiated by the construction of the factory of the first electric car designed in Turkey, which is being built in Gemlik (Bursa) and is also scheduled to come into operation in 2022.
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When Monica finished her business degree, she had the idea to celebrate it travelling: that’s how she ended up visiting Turkey, and she liked it so much… that she decided to stay and live there! And she is still there, reporting from the city of Bursa on the latest news about the interesting Turkish economy.