Statement from Ford about the VW Joint Project

Statement from Ford about the VW Joint Project A statement came from the automaker Ford about the VW joint project. In the statement made by Ford Automotive, it was stated that no concrete decision was taken on a joint commercial vehicle investment project with Volkswagen. Following the news in the press that Ford Motor Company and Volkswagen AG jointly produce commercial vehicles in Kocaeli, Ford made a statement on the Public Disclosure Platform (KAP). Ford Automotive stated, no concrete decision was taken regarding a commercial vehicle investment project in partnership with Volkswagen. However, the statement pointed out that the negotiations on the location of the production are continuing, and it was emphasized that the news about the investment do not reflect the truth.   The following statements were used in the clarification made by the company: "There are some news in the press that the joint commercial vehicle production will be carried out in Kocaeli by our main partners Ford Motor Company and Volkswagen AG. It is known that the negotiations regarding the common production location of 1 ton medium commercial vehicle between Ford Motor Company and Volkswagen AG on the subject are still ongoing within the scope of the cooperation plans that have been going on since 2018. At the same time, negotiations are continuing between our Company and Ford Motor Company about the investment project in question, and a concrete decision has not been taken yet. In this context, the detailed information about the investment in the news does not reflect the truth, and if the negotiations are concluded and the board of directors decision is taken, necessary explanations will be made in accordance with the Special Conditions Communiqué of the Capital Markets Board. In this context, there is no development that would require a public disclosure within the scope of the Communiqué regarding the issue reflected in the media, and this statement was made upon the inquiries from our investors. The English translation of this statement is attached, and if there is any difference in the text of the explanation, the Turkish explanation will be considered as the basis. "   The following statements were included in the press release of the Kocaeli Chamber of Industry: "On 21 October 2020, various news about the investment to be made by Volkswagen and Ford in Kocaeli were featured in various media outlets, referring to Ayhan Zeytinoğlu, President of the Kocaeli Chamber of Industry, and these news included the investment amount, investment location, etc. We would like to share with the public that no official or unofficial statement mentioned in the details of this news has been made on behalf of President Ayhan Zeytinoğlu from Kocaeli Chamber of Industry. "