SEOUL (Reuters) – South Korean electric vehicle maker SK On said on Wednesday the non-binding memorandum of understanding between SK On, Ford Motor Co and Koc Holding AS to build a battery cell venture in Turkey has been terminated by mutual agreement.
SK On – whose parent SK Innovation Co Ltd counts Hyundai Motor Co, Volkswagen AG and Ford among its customers – announced the joint venture to make electric vehicle (EV) battery cells in Turkey last year.
(Reporting by Heekyong Yang; Editing by Tom Hogue)
