SEOUL – South Korean electrical car maker SK On stated on Wednesday the non-binding memorandum of understanding between SK On, Ford Motor Co and Koc Holding AS to construct a battery cell enterprise in Turkey has been terminated by mutual settlement.
SK On – whose mum or dad SK Innovation Co Ltd counts Hyundai Motor Co, Volkswagen AG and Ford amongst its clients – introduced the three way partnership to make electrical car (EV) battery cells in Turkey final yr.