SK On to build battery plant in Turkey with Ford and Koc

SK On said on Monday that it will form a joint venture with US car giant Ford and Turkish automaker Koc to build a battery production facility in Turkey.

The plant will manufacture nickel, cobalt and manganese oxide batteries and start production around 2025, the South Korean battery maker said.

It will have an annual production capacity between 30GWh to 45GWh, SK On said, while housing 18 production lines that will manufacture both 300mm and 600mm axes batteries.

SK On is aiming to have an annual capacity of 220GWh in 2025 from the plant in Turkey and another in Germany.

Their combined capacity is expected to reach 500GWh in 2030, the South Korean company said.

SK On also has a joint venture with Ford based in the US called Blue Oval SK which is aiming for an annual capacity of 240GWh by 2030.