Ford Otosan — the automaker's joint venture with Turkish conglomerate Koç Holding — will produce electric vans in the Eurasian nation in 2023. Ford plans to produce fully electric hybrid variants and the combustion-engined version. The automaker will spend $2.4B, the largest ever investment in the Turkish auto industry.
- Ford Otosan will also produce a one-tonne commercial vehicle as part of the partnership between the two automakers.
- Ford has a 15% share of the European commercial vehicle market. It has been the number one player in the U.K.'s commercial van market — Europe's largest — for 56 years.
- The automaker is aiming to capitalize on demand from delivery businesses that need electric vans to reduce their carbon emissions.
- Last month, Ford announced it would offer all-electric or plug-in hybrid versions for its entire commercial vehicle lineup by 2024.
- It projects all-electric or plug-in hybrid vehicles will account for 66% of its sales by 2030.