19
Jan
14:51
Turkish battery joint venture secures funding from Chinese bank
The Turkish branch of the Industrial and Commercial Bank of China (ICBC) will provide a CNY 400 million ($56.2m) loan to support battery cell manufacturing in Gemlik, northwestern Turkey.
Siro Silk Road Clean Energy Solutions – the 50-50 joint venture of Turkey’s automaker TOGG and China’s battery producer Farasis Energy – signed the agreement on 18 January. The five-year deal has a two-year grace period, Kallanish learns from ICBC Turkey.…
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