European Bank for Reconstruction and Development (EBRD), additional loan of EUR 200 million to the company to financially support next generation commercial vehicle investments, including fully electric and hybrid electric PHEV (Plug-In Hybrid) vehicles signed by Ford Otosan. will provide.
The information provided by the company on this important issue was as follows: “The financing package consists of a loan of 54 million Euros from the EBRD’s own resources and a 146 million Euro loan from other lenders within the framework of the bank’s A/B syndicated loan structure. In this financing model, in which 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 650 million Euro loan given to Ford Otosan to finance the next generation production of the Ford Transit Custom Family, including environmentally friendly, fully electric versions, in 2021.”
Speaking on the subject, EBRD Turkey Director Arvid Tuerkner said the following regarding the additional financing: “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.”
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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.”