Recently, SIRO and the Turkish Ministry of Industry and Technology signed an investment plan and incentive document for 20GWh batteries. It is reported that SIRO, as a joint venture between Funeng Technology and TÜRKİYE'NİN OTOMOBİLİ GİRİŞİM GRUBU SANAYİ VE TİCARET A.Ş. (hereinafter referred to as "TOGG"), mainly develops power batteries for the entire series of TOGG products, and will gradually promote technical output as Automobile manufacturers in Europe, the Middle East and Africa provide battery solutions and are actively exploring other non-motor vehicle applications such as energy storage.

As early as June 2020, Funeng Technology was selected by TOGG as its supplier of R&D and production of power batteries. In October 2020, the cooperation between the two parties was further deepened, and the "Letter of Intent for Cooperation" was signed, and a strategic plan for the development of both parties was made. In September 2021, Funeng Technology and TOGG (signed the "Joint Venture Agreement", "Battery Pack Supply Agreement" and other agreements to establish a joint venture company SIRO.

The cooperation between Funeng Technology and TOGG is conducive to in-depth understanding of the needs of Turkey and other related markets, thereby improving product competitiveness. Secondly, making full use of local Turkish resources for mutual benefit and win-win results can improve the operating efficiency of the joint venture and lay a solid foundation for the company to further expand its international business in the future. Keywords: international engineering news, foreign engineering project information

SIRO is expected to be put into production in the second half of 2022, in two stages. In the first stage, the factory will mainly engage in the centralized manufacturing of modules and PACKs, and the corresponding batteries will be provided by Funeng Technology. In the second stage, the factory produces batteries to achieve the goal of mass production off the assembly line.Editor/Baohongying