Entertainment

Ford signed into a memorandum of understanding (MoU) to establish a new joint venture Tuesday with LG Energy Solution and Koç Holding. The JV plans to build one of Europe’s largest commercial EV battery cell facilities, with up to 45 GWh in potential annual production capacity.

Last year, Ford announced it would become an all-electric brand in Europe by 2035, with nine EVs in its lineup by 2024.

After successfully rolling out the Mustang Mach-E, Mach-E GT, and E-Transit, Ford says it will add three new passenger vehicles, including at least one electric crossover built on VW’s MEB platform, in addition to four new commercial vehicles in the region. (Check out the E-Tourneo customizable MPV.)

Ford is transforming its business in Europe with a new generation of electric vehicles. However, EV components, particularly battery cells, will be critical to support the automaker’s ambitions.

In March, Ford announced it had signed an MoU with SK On and Koç Holding to create one of Europe’s largest EV battery plants with an annual capacity in the 30 to 45 GWh range in Turkey.

More recently, a report claimed Ford wanted to accelerate the shift to EVs in Europe and would expand its list of possible battery cell suppliers for the region, including LG Energy Solution.

According to Ford’s latest press release Tuesday, it looks like the reports may be true.

Ford taps LGES for massive battery cell plant in Europe

The project between Ford, LGES, and Koç Holding is on track and expected to break ground near Ankara, Turkey, later this year.

Annual production capacity is expected to be at least 25 GWh but could potentially expand up to 45 GWh. Lisa Drake, VP for Ford EV industrialization, explains:

Establishing the new joint venture with LGES and Koç Holding will lay a solid foundation that is fundamental to building a thriving electric vehicle future for Ford in Europe.

Production in the new European EV battery cell facility is expected to begin in 2026. As Ford prepares to reach 2 million global annual EV production and extend its position in the EV market, battery cell availability will be vital.

Articles You May Like

Google expects its more advanced large language models to arrive on Android phones next year
Mercedes-Benz drastically backtracks EV plans, will build gas cars well into 2030s
Mexico’s next wave of UFC talent is here, Bellator gets bragging rights over PFL
Sony to lay off 900 workers from PlayStation division, or 8% of unit’s global workforce
Tesla updates its mobile app with AI assistant, highlights non-car products