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[FROTO]
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English
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oda_MaterialEventDisclosureGeneralAbstract|
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Hayır (No)
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Hayır (No)
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21/02/2023
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Hayır (No)
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As a result of the evaluations regarding the foreseen battery cell production investment in Ankara by Ford Motor Company ("Ford") and LG Energy Solution Ltd. ("LGES") with the participation of Koç Group, it has been concluded that, considering the current pace of electric vehicle adoption, the timing is not appropriate for a battery cell investment, and hence the Memorandum of Understanding (MoU) mentioned in our announcement dated 21.02.2023 has been revoked.
Ford and Koç Holding will remain committed to support electric vehicle production at Ford Otosan's Kocaeli Plant and will evaluate potential battery cell investments in the future in line with the dynamics of the electric vehicle market.
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.
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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.