Türkiye on the Path to Becoming a New Generation Electric Vehicle Production Base
Turkey is entering a new era by focusing on electric vehicle production within the scope of the “High Technology Investment Program HİT-30” announced by President Recep Tayyip Erdoğan. With this program, the transformation process for the automotive sector is gaining momentum.
The Target is to Produce 1 Million Electric Vehicles by 2030
Erdoğan stated that they aim to increase annual production for electric vehicles to 1 million units by implementing a $5 billion incentive package. With this incentive package, they aim to support R&D and engineering activities and make Turkey a regional production base.
Total Capacity Reaches 700 Thousand
There are currently brands such as Togg, which produces electric vehicles, and Ford Otosan, Anadolu Isuzu and Karsan, which produce commercial vehicles in Turkey. Hybrid vehicle production also has an important place. The Turkish automotive sector aims to reach a total capacity of up to 700 thousand with electric and hybrid vehicle production.
Investment Potential of 300 Thousand Units
The Turkish automotive sector needs another 300,000 units of capacity to reach the 1 million electric vehicle production target. The recent interest of Chinese brands in the automotive sector in Turkey has enabled new investments in the sector.
Capacity Will Reach 2.5 Million
BYD’s decision to build a $1 billion, 150,000-capacity factory in Manisa has increased the total capacity of the Turkish automotive sector to 2.2 million. With future planned capacity increases and new investments, the sector is expected to reach a production capacity of 2.5 million vehicles.
