SK On confirms termination of non-binding agreement to build battery cell venture in Turkey

The logo of SK Innovation is seen in front of its headquarters in Seoul
The logo of SK Innovation is seen in front of its headquarters in Seoul, South Korea, February 3, 2017. REUTERS/Kim Hong-Ji/File Photo

SEOUL, Feb 8 (Reuters) - South Korean electric vehicle maker SK On said on Wednesday the non-binding memorandum of understanding between SK On, Ford Motor Co (F.N) and Koc Holding AS (KCHOL.IS) to build a battery cell venture in Turkey has been terminated by mutual agreement.

SK On - whose parent SK Innovation Co Ltd (096770.KS) counts Hyundai Motor Co (005380.KS), Volkswagen AG (VOWG_p.DE) and Ford among its customers - announced the joint venture to make electric vehicle (EV) battery cells in Turkey last year.

(This story has been refiled to fix a typo in the headline)

Reporting by Heekyong Yang; Editing by Tom Hogue

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