Date Of The Previous Notification About The Same Subject
09/11/2021
Postponed Notification Flag
Hayır (No)
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Explanations
As part of the studies for evaluation of the evolving investment opportunities in the automotive industry, Koç Holding has signed a non-binding Memorandum of Understanding with Ford Motor Company ("Ford") and SK On Co., Ltd. ("SKO") in order to outline the preliminary intentions of the parties to explore collaboration possibilities for Koç Group to become a party to the foreseen electric commercial vehicle battery production investment by Ford and SKO in Ankara. In this respect, the possibility of the sale of batteries within the scope of the Project to our joint venture Ford Otosan, to be utilized for production of next-generation Transit vehicles is also being evaluated.
According to the MoU, if an agreement is reached between the parties, production is targeted to start in 2025, with a total annual capacity of 30-45 Gigawatt hours.
The decision on participation of Koç Group in the Project, the terms of the collaboration, the allocation of capital and the partnership conditions, and the details of the investment, if any, will be taken upon the completion of negotiations between the parties and the finalization of the feasibility studies. Accordingly, material developments will be shared with our investors in due course.
This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.
We proclaim that our above disclosure is in conformity with the principles set down in "Material Events Communiqué" of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we're personally liable for the disclosures.
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Koç Holding AS published this content on 14 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 March 2022 06:43:08 UTC.
Koc Holding AS is a Turkey-based holding company, which operates in a number of sectors though its subsidiaries. The Company operates under the following business segments: Energy, Automotive, Consumer Durables, Finance and Other. Its Other segment is engaged in the food, retail, tourism, Information Technology (IT) and ship construction activities. The Energy segment is engaged in the power generation, mining, petroleum shipping, and in the production and trading of petroleum products, natural gas and Liquefied Petroleum Gas (LPG) activities. The Automotive segment is engaged in the production, trading, insurance and car rental activities. The Consumer Durables segment is engaged in the production and sale of a range of consumer durables, such as air conditioners. The Finance segment is engaged in the banking, consumer finance, factoring, leasing, brokerage, portfolio management, financial consulting, real estate and insurance activities.
KOÇ HOLDING 
