“Türkiye will be one of the world’s largest commercial electric vehicle manufacturers with the new investment of a top-notch automotive company-Ford Otosan,” President Recep Tayyip Erdoğan announced today.
The joint venture of Türkiye’s Koç Holding and American automotive giant Ford, Ford Otosan has decided to expand its battery production in Türkiye with a new investment.
Delivering a speech at the Ford Otosan Future Vision Meeting held in the Presidential Complex in Ankara, President Erdoğan emphasized that this investment will be a kick-start for 2021. “We are decisive to make the private sector the driving force behind Türkiye’s growth,” said President Erdoğan, then elaborating on Türkiye’s incentive mechanisms provided to investors. Ford Otosan’s new investment will be made within the scope of the Project-based Incentive System of the Turkish government in Türkiye’s industrial province, Kocaeli and the first electric vehicles will be ready in 2022.
During the meeting, an agreement has been signed between Ford Otosan and Ford Europe in order to purchase the vehicles to be produced in the new plant.