Manufacturing Korean EV battery maker denies report it has scrapped Turkey plan By Reuters January 9, 2023 Creative Commons SK has battery manufacturing sites in South Korea, China, Hungary and the US South Korean electric vehicle battery maker SK has not decided whether to pursue a battery cell venture in Turkey with Ford Motor Co and Koc Holding, after signing a memorandum of understanding in March last year. The Dong-A Ilbo newspaper reported, citing an unidentified source, that SK plans to scrap the idea due to a weak macroeconomic environment. “After signing the memorandum of understanding in March 2022, we have been discussing the joint venture case in Turkey, but discussions have not been completed. The final decision whether or not to halt negotiations regarding the joint venture has not been made yet,” SK said in a statement. SK is the wholly owned battery unit of SK Innovation Co Ltd, and counts Hyundai, Volkswagen and Ford among its customers. In announcing the joint venture plans in March, SK said the partners aimed for annual production capacity of 30-45 gigawatt hours (GWh) with production starting in 2025. SK has battery manufacturing sites in South Korea, China, Hungary and the United States.
