Russian industrial battery manufacturer Energon will produce lithium-ion batteries in Turkey, according to a statement released by the company on Friday.

The lithium-ion batteries produced in Turkey will be exported to African, Asian and Eastern European markets, the statement added. No information was given regarding the amount of the investment.

"The importance of close supply has increased under pandemic conditions. There have been significant increases in freight prices during long delivery periods. Factors such as these have been influential in our decision to start manufacturing in Turkey," said Energon International Business Development manager Andrey Shukevich.