Otosan EV

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 Ford Otomotiv Sanayi A.S. (Otosan or the Company - https://www.fordotosan.com.tr/en) is a leading automotive manufacturer and is an existing IFC client. The Company is a JV between Koç Holding A.S. (Koç Holding) and Ford Motor Company (Ford) and is also publicly listed at Borsa Istanbul (Istanbul Stock Exchange). The Company is headquartered in Istanbul and has research and development, production, and distribution (R&D) facilities in Turkiye and Romania.   The Company, in its four plants, produces passenger vehicles, medium and light commercial vehicles as well as trucks. The production complex in Kocaeli is the largest commercial vehicle production base of Ford in Europe, consisting of Golcuk and Yenikoy plants located next to each other, launched in 2001 and 2014 respectively. The Company started construction in 2021 for capacity increase in these two plants, including establishment of new electric vehicle and battery production lines. The production capacity in Kocaeli plants is expected to reach 650K vehicles by 2025 (currently is 453K). In March 2022, the Company announced the acquisition of Ford Romania, which engages in vehicle and engine manufacturing in Craiova plant, with capacity to produce 250K vehicles (Puma and EcoSport passenger models) and 365K engines annually.  Since 2020, IFC has a corporate loan investment in the Company partially funding the Company's capex program during the period of 2020-2024 (Otosan #43017, ESRS available at: https://disclosures.ifc.org/project-detail/ESRS/43017/otosan ). The project environmental and social (E&S) performance is at good standing. The IFC investment will consist of a senior corporate loan of up to EUR150 million in 2022 and up to EUR90 million in 2023  to partially fund the Company’s ongoing multi-year EUR1.40 billion electric vehicle investment program including the production of its new Ford Transit Custom commercial vehicle, a one-ton, medium-sized electric vehicle manufactured at the Yeniköy plant in Türkiye (the Project).