On January 9, Korea Economic Daily reported that Ford Motor and SK On canceled plans to build an electric vehicle battery plant in Turkey amid rising global interest rates and weak demand for electric vehicles in Europe. The plant, which was supposed to start operating as soon as 2025, is part of Ford’s push to produce 2 million electric vehicles a year by 2026.
The Korea Economic Daily reported on Monday, citing sources, that the two companies had recently withdrawn from a preliminary agreement signed in March 2022. SK On responded to Bloomberg saying that it has not yet made a final decision on whether to stop negotiations with Ford to establish a joint venture in Turkey.
Source: official website
media reports
Pinwan Phoenix Technology IT House
Event Tracking
- 2023-01-09Ford and SK On cancel plans to build EV battery plant in Turkey
- 2022-12-04Ford ‘s electric vehicle certification program encounters dealer resistance
- 2022-10-27 Ford Motor: Q3 net loss was US$827 million, compared with net profit of US$ 1.832 billion in the same period last year
- 2022-09-26Ford : will operate China’s electric vehicle business with an independent company “Electric Mach Technology”
- 2022-09-19Ford : Inflation will increase supplier costs by $1 billion
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