April 2, 2026: Turkish industrial group İnci Holding is taking full control of its battery joint venture company with Japan’s GS Yuasa under an equity transfer agreement.

The partners announced on March 27 that İnci would acquire Yuasa’s 60% stake in the İnci GS Yuasa lead battery operation.

Yuasa said the deal, scheduled for completion in May, was agreed after both sides decided management of the battery company by an İnci-led team would be in the best interests of all concerned.

However, İnci and Yuasa will continue to collaborate under a new technology and supply arrangement, with Yuasa supporting expanded sales in Europe as a contract manufacturer to the Turkish operation.

The joint venture was formed 11 years ago and the partners opened their third battery factory in Turkey in 2019.

İnci Holding CEO and board member Zeki Şafak Ozan said the new partnership structure would see the companies preserve their expertise and launch a new period of strategic cooperation.

Despite global economic pressures, some $210 million has been invested in the battery operation over the past five years, securing an export performance valued at more than $2.5 billion, Ozan said.