Automotive Exports March 2021

portfolio,” the TOGG chairperson also said.
He pointed out that the joint venture will
form a basis of very important economic
value as a representative of the energy
company in the region, adding that the
TOGG alone will lead the technological
transformation in Turkey while contributing
to the country’s zero-emission future.
’TOGG pioneering initiative’
Farasis co-founder and CEO Yu Wang, who
attended the signing ceremony online due
to the COVID-19 pandemic, said Turkey
is one of the most important automotive
markets in the region.
“Partnering with the TOGG as they prepare
to manufacture electric vehicles, building on
the advanced and accumulated automotive
know-how in Turkey, is a natural step we
have taken in line with our basic strategies,”
he said, noting that they “value Turkey as
the next big market for electrification and
thus an ideal location along with the TOGG
as a greatly innovative partner doing the
right work, at the right time, in the right
place, to support the ambitious growth
plans of our company.”
“We have signed this letter of intent to
meet the demands both in Turkey and in the
region. We are excited that this cooperation,
which started with the supply of batteries,
will turn into a long-term partnership,”
Wang added.
The energy company’s head of European
organization and business, Sebastian Wolf,
who had personally taken part in the
signing ceremony, noted that from the very
beginning of the cooperation talks with the
TOGG, they felt that both companies share
the same goal of electrifying the future of
individual mobility.
“We expect the Turkish automotive and
nonautomotive market to face substantial
growth in demand for li-ion batteries,” he
said, expressing excitement over partnering
with the Turkish automotive joint venture.
The agreement foresees a comprehensive
business plan for cooperation between the
two countries by 2020 end, while the official
establishment of the joint venture company
is set for the beginning of 2021.
In June 2018, five industrial giants – Anadolu
Group, BMC, Kök Group, Turkcell and Zorlu
Holding – joined hands with the umbrella
organization TOBB to produce the TOGG to
realize Turkey’s long-term aim of producing
a fully Turkish-made automobile, unveiling
prototypes on Dec. 27.
The TOGG will produce five different models
– an SUV, sedan, C-hatchback, B-SUV and
B-MPV – by 2030 and own the intellectual
and industrial property rights to each. Mass
production of the SUV will begin in 2022,
with the sedan to follow.
Farasis Energy Inc., the predecessor
of Farasis Energy Ltd. based in China’s
Ganzhou, was founded in the U.S. in 2002,
gradually extending its business across
China and Europe. The company has a broad
portfolio of battery solutions and global
customers in different markets.
Farasis is currently one of the largest
manufacturers of pouch cells for the BEV
market, with multiple global R&D centers
and over 4,000 employees. The company
has previously started programs with BAIC,
one of the leading original equipment
manufacturers (OEMs) of China and Daimler
(Mercedes-Benz) on a range of electric
vehicle battery solutions.
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