Ford Otosan and EBRD Continue to Join Forces for an Electric Future

Ford Otosan and EBRD Continue to Join Forces for an Electric Future
Ford Otosan and EBRD Continue to Join Forces for an Electric Future

The European Bank for Reconstruction and Development (EBRD) was awarded €200 million to financially support Ford Otosan's next generation commercial vehicle investments, including fully electric and hybrid electric PHEV (Plug-In Hybrid) vehicles. will provide additional credit.

The financing package consists of a loan of 54 million Euros from the EBRD's own resources and a loan of 146 million Euros from other lenders within the framework of the bank's A/B syndicated loan structure. In this financing model, where the EBRD is the registered lender for the entire loan amount, other commercial banks and private sector lenders meeting the required qualifications participate in the EBRD loan at market conditions. Participating lenders include the Green for Growth Fund, HSBC, MUFG, Société Générale and ILX.

The loan, provided as part of the EBRD's effort to finance the transition to a green economy, supports Ford Otosan's goal of leading the electrification of the automotive world for a more sustainable future. The loan is an extension of the 2021 million Euro loan given to Ford Otosan in 650 to finance the next generation production of the Ford Transit Custom Family, including environmentally friendly, fully electric versions.

EBRD Turkey Director Arvid Tuerkner said: “Electric vehicles are a necessity for a net zero future and we are proud to partner with industry leader Ford Otosan to make Turkey the commercial electric vehicle manufacturing hub of Europe. We are happy that our partnership, which we started in 2021 with a financial package of 650 million Euros, continues. Our creditors have trusted us and agreed to use their resources for this common cause. The EBRD remains committed to a green future in Turkey and globally.”

Güven Özyurt, General Manager of Ford Otosan, made the following statement: “As Europe's leading electric commercial vehicle manufacturer, Ford Otosan, we are pioneering a new era in sustainable production by rethinking not only what we do, but also how we do it. As a company that has made it its mission to provide products and services that benefit the environment and society since the day it was founded, we are building a sustainable factory with the most advanced technology in our Kocaeli facilities with the aim of a carbon neutral future. Our electric vehicles and our new factory will play an important role in achieving our long-term sustainability goals of achieving carbon neutrality in plants by 2030, in suppliers and logistics by 2035, and in manufactured products, including heavy commercial vehicles, by 2040.”

Ford Otosan, with its mission to lead the electricity transformation of the automotive industry, announced that it received incentives for new generation electric and connected commercial vehicle production projects at its Kocaeli Plants, with a forecast of 2026 billion TL investment until 20,5.

Kocaeli Plants, which is one of Ford's most efficient factories, strengthens its position as Ford Otosan's center of excellence in commercial vehicle production and the center of Transit production in Europe with its production line and battery assembly facility with the most advanced production technologies. Ford Otosan, which recently announced its targets to become carbon neutral in 2030 at its production facilities and R&D center in Turkey, aims to sell only zero-emission vehicles by 2030 in passenger vehicles, by 2035 in light and medium commercial vehicles, and by 2040 in heavy commercial vehicles.

In parallel with this goal, Ford Otosan, the sole European manufacturer of E-Transit and E-Custom, continues to play a critical role in Ford's electrification strategy. Ford Otosan, which produces 88% of the Transit family vehicles sold by Ford in Europe in Kocaeli, has launched Ford's first all-electric commercial model E-Transit, which it has ceremonially taken off the line for mass production in the past months, with 100% renewable electrical energy at its Kocaeli Plants. produces with. Ford Otosan will gradually start producing diesel, hybrid electric PHEV (Plug-In Hybrid) and fully electric versions of the new 2023-ton Ford Custom in the first half of 1.

The EBRD's additional investment will help Ford Otosan transform its Kocaeli facilities into an integrated production center for electric vehicle assembly in Turkey. The financing will also help support higher operational standards and contribute to the digitalization of suppliers through wider integration into the value chain, raising standards and efficiency.

The EBRD is one of Turkey's leading institutional investors and to date has invested over €378 billion in the country through a total of 17,2 projects, mostly in the private sector.

Günceleme: 29/12/2022 14:16

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