Automotive Exports December 2022

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.


Monthly automotive aftermarket magazine




İstmag Magazin Gazetecilik

İç ve Dış Ticaret Ltd. Şti.

Managing Editor (Responsible)

Mehmet Söztutan



Ali Erdem



Mehmet Soztutan, Editor-in-Chief


Advertising Managers

Adem Saçın

+90 505 577 36 42


Enes Karadayı


International Marketing Coordinator

Ayca Sarioglu



Yusuf Okçu


Finance Manager

Cuma Karaman


Digital Assets Manager

Emre Yener


Technical Manager

Tayfun Aydın


Design & Graphics

Sami aktaş



Yusuf Demirkazık



İsmail Özçelik



İstmag Magazin Gazetecilik

İç ve Dış Ticaret Ltd. Şti.

Ihlas Media Center

Merkez Mah. 29 Ekim Caddesi No: 11B / 21

Yenibosna Bahcelievler, Istanbul / TÜRKİYE

Tel: +90 212 454 22 22

www.img.com.tr sales@img.com.tr


Metin Demir

Hazım Uluşahin İş Merkezi C Blok

Kat: 6 No: 603-604-605 KONYA

Tel: (90.332)238 10 71 Fax: (90.332)238 01 74

Reaping the fruits of export-drive

As noted earlier in this column, the exports by Turkish automotive sector have reached

remarkable figures in the last decade. The automotive industry has been active since

the early seventies. Thus, Turkey has become a major production platform for global

automotive manufacturers.

As known, the auto parts industry has recorded a dynamic growth in line with the

automotive industry. From simple components in the mid-1960s, the sector has ascended

to produce high-tech components.

The industry with its large capacity, wide variety of production and high standards,

supports automotive industry production and the vehicles in Turkey and also has ample

potential for additional exports.

The leading foreign automotive parts manufacturers have established their presence in the

country through joint-ventures, which dominate production and exports. There has also

been substantial locally-owned investment by spare parts manufacturers.

To sum up:

- Quality of production improved dramatically, especially through the establishment of

quality management systems.

- The industry has adapted to EU regulations and has established an efficient and

exemplary cooperation with public institutions in the transformation of the EU regulations

to national regulations and their implementation.

- Exports have risen sharply, and Turkish production has been integrated into

manufacturers’ global planning.

Key factors which attract foreign capital inflows to Turkey mainly include the market size,

consumer composition, friendly investment legislation and liberal banking system together

with other attractiveness arising from highly skilled human resources in production and

management, the unsaturated domestic market with high potential, easy access to

neighboring (regional) emerging markets, and low labor cost.

The industry exhibits its full potential in major specialized fairs both at home and abroad.

By participating in a series of fairs, our publications remain at the service of those

businesses people seeking to increase their share in the increasingly competitive foreign


This month, we participate in Moroccan Automotive Industry Show, Casablanca.

We are fully convinced that the event would pave the way for a series of new business

opportunities. We wish all participants success and lucrative business.



Merkez Mahallesi 29 Ekim Caddesi İhlas Plaza

No:11 A/41 Yenibosna–Bahçelievler/ İSTANBUL

Tel: 0212 454 30 00




Germany ‘on course for

recession’ as industrial

orders drop

German industrial orders have dropped by more than

expected in September as foreign demand slumped, putting

Europe’s largest economy on course for recession, data


New orders fell by 4.0 percent on the month on a seasonally

and calendar-adjusted basis, the Federal Statistics Office said.

Germany staved off the threat of recession in the third

quarter with unexpected growth, but the economy remained

in choppy waters as high inflation driven by a painful energy

standoff with Russia surged, data showed.

The orders data underlined the headwinds Germany is facing

as the sluggish global economy, materials shortages and the

energy crisis hamper production.

Headed towards recession

“The German economy is on course for recession - that

much can be deduced from the disastrous new orders,” said

Thomas Gitzel, chief economist VP Bank.

While domestic orders increased by 0.5 percent, foreign

orders plunged b y 7.0 percent. Within the euro zone, orders

were down 8.0 percent while orders from outside the euro

zone dropped 6.3 percent.

“The high level of new orders that had set in after the

coronavirus pandemic as a result of catch-up effects appears

to have come to an end,” the economy ministry said.

Decreases in the automotive and mechanical engineering

sectors in particular, down 9.0 percent and 8.1 percent

respectively, dragged down the overall index, according to the



Famed Kapadokya most-loved color of

Türkiye’s national car Togg

Türkiye’s first national, fully electric car

Togg, which recently saw the first massproduced

vehicle come off from the

production line, revealed its most-preferred

color through a survey.

The survey was conducted with the

participation of 500,000 people from Togg’s

social media account.

According to the results, the color

“Kapadokya” (Cappadocia in Turkish)

which is among the total of six colors that

“Togg took inspiration from the beauties of

Türkiye” was the most popular color of the


The colors include “Anadolu” (Anatolia),

“Gemlik,” “Oltu,” “Kula,” “Kapadokya” and


Kapadokya is the color representing the

colors of the fairy chimneys in Türkiye’s

famed touristic region of Cappadocia in the

central province of Nevşehir.

Anatolia is a red “reflecting the friendliness

and passion of Anatolian lands.”

Gemlik is a turquoise blue color which

represents the blue waters under the

shade of olive trees in Gemlik located on

the coast of the Marmara sea.

Kula is gray, taking its inspiration from

the “magnificence of Kula, which carries

millions of years of history of Earth to the

present with its natural structure, rocks and

valleys,” in Türkiye’s Aegean region.

The black color of Oltu represents the

eye-catching blackness, shiny texture and

solid structure of the Oltu stone, one of

the rare and fascinating gemstones found

in the eastern Erzurum province. The color

Pamukkale, meanwhile, is a while color,

the dazzling whiteness of Pamukkale’s

travertines in western Türkiye’s Denizli.

In addition to the SUV, Togg will be

manufacturing another four models – a

sedan, C-hatchback, B-SUV and B-MPV –

through 2030.

Mass production of the SUV will be

followed by the sedan. The vehicle is being

produced by a consortium of five Turkish

companies called the Automobile Initiative

Group of Türkiye, or Togg in short, in

cooperation with the Union of Chambers

and Commodity Exchanges of Türkiye


The brand aims to produce 1 million

vehicles across the five segments by 2030.

December 2022 14

Turkish auto sales jump nearly 15% in October

Sales of passenger cars and light

commercial vehicles in Türkiye rose 14.9%

year-over-year in October, according to

data provided by an industry group.

A total of 65,222 vehicles were sold across

the country, the Automotive Distributors

Association (ODD) said in a statement.

Passenger cars accounted for nearly 73% or

47,440 of the sales, an increase of 17.1%

during the same period.

As many as 17,782 light commercial

vehicles were also sold, up 9.5% from

a year earlier. The association said the

automotive market fell 4.6% compared to

the average 10-year October sales.

In the January-October period, Türkiye’s

automotive market narrowed by 4.7% on

an annual basis to 585,752 vehicles.

Passenger car sales fell 6% to 446,664 units

in the first 10 months of 2022 compared to

the same period from a year ago.

December 2022 16

Turkish automotive exports remain robust

despite global headwinds

Turkish automotive exports jumped to

$2.65 billion (TL 49.21 billion) in October,

industry data showed , in an increase

that comes despite global headwinds

dominated by talks of recession and

surging inflation.

Exports increased by 1.8% year-over-over,

the Uludağ Automotive Industry Exporters’

Association (OIB) said in a statement. At

12.4%, the industry held the largest share

of Türkiye’s overall exports.

Foreign sales were up about 5% from a

year ago in the January-October period to

some $25 billion, the data showed.

“Our automotive exports continue to

increase” despite the growing global

recession risks, contraction in the

eurozone, the industry’s largest market,

and surging inflation, OIB Chairman Baran

Çelik said.

The supply industry, tractors, buses,

minibusses and midibuses all saw a doubledigit

increase in sales in October, Çelik said.

The supply industry topped exports with $1

billion worth of sales, a 13% year-over-year


Çelik said exports to top markets such

as Germany, Belgium and Russia also

registered double-digit increases in the


Sales to Germany were up 15% year-overyear

in October to $404 million, while

those to the United Kingdom rose 9% to

$285 million, the data showed. Exports to

France were down 12% to $252 million.

Sales to Belgium, Russia, Romania and

Portugal increased by 32%, 23%, 21% and

79%, respectively.

December 2022 22

Togg invites citizens to test

SUV model at new Istanbul center

Türkiye’s first indigenous electric

automobile brand Togg is opening its first

experience center in Istanbul, enabling

citizens to get to know its C-SUV model

from a closer perspective.

A total of 20 centers are expected to be

opened across the country.

The first Togg experience center opened

its door in the metropolis’ Zorlu Center,

welcoming citizens to examine the C-SUV

model closely, particularly the parts they

are curious about. The next experience

centers will soon start operating in

southern Adana, the capital Ankara, Gemlik

and western Izmir province.

The opening comes after the inauguration

of Togg’s factory in the Gemlik district

of Türkiye’s automotive capital Bursa,

during which the first mass-produced SUV

model left the production line. Following

the announcement of the vehicle’s mass

production, high interest in the first

domestic electric car was seen both in the

country and abroad.

It has received thousands of orders

coming from the public sector in Türkiye,

including banks that were placed on the

priority list for receiving their models

earlier than others. Togg also received

its first international order recently, from

Azerbaijani President Ilham Aliyev who

stated that he wants to purchase two cars

for himself. Many citizens have also already

listed their existing vehicles for sale on the

internet in order to buy a Togg, which will

hit the road in March 2023. Around 17,000

to 18,000 vehicles are planned to be put

up for sale in the first stage, throughout

2023, after some five months of security

procedures the car is set to pass through.

The vehicle is being produced by a

consortium of five Turkish companies called

the Automobile Initiative Group of Türkiye,

or Togg, in cooperation with the Union of

Chambers and Commodity Exchanges of

Türkiye (TOBB).

Togg, which will have “300+” and “500+”

kilometer range options with its inborn

electric modular platform, will be

constantly connected to the center and

will be able to receive updates remotely

via 4G/5G connection. The batteries of the

vehicles which will be integrated into the

model, and are compatible with the Euro

NCAP 5-star level rating system are set to

get 80% full in less than 30 minutes with

fast charging option.

December 2022 24


seeks energy


abroad, says



Türkiye wants to engage in production

activity in counties from which it buys

natural gas or oil, Energy Minister Fatih

Dönmez has said, adding that studies are

underway to identify the location for a

third nuclear plant.

“This is our new energy strategy. We

consider establishing partnerships with

those countries to acquire a share in

the production of natural gas or oil. We

have been receiving offers, particularly

from Africa, since we have increased

our operations capabilities in the seas,”

Dönmez said.

“Those countries look very favorably upon

this idea and we have invited them to our

country. We can act together with friendly

nations,” he said, unveiling the new energy

strategy in a press meeting.

“We traveled to Indonesia and Malaysia.

In Malaysia, we discussed the prospects of

natural gas exploration and cooperation.”

Türkiye has played an important role over

the past years in strengthening energy

supply security for neighboring countries,

Dönmez added.

“While improving our own infrastructure,

we have secured new resources. We are

buying natural gas from Russia, Iran and


Türkiye has also increased its LNG capacity

bbyputting two FRSUs (Floating Storage

Regasification Unit) in use in addition to

the already existing two LNG land terminals

and a third FRSU will be launched in Saros,

he noted.Dönmez stressed that Türkiye

may further diversify its suppliers of natural


“The Gulf countries may deliver gas here.

Israeli gas can arrive here, and we may

buy gas from Nigeria. We are in talks with


The minister added that all natural gas

storage facilities were full as of the end of

September and ready for the winter. “They

will be used if problems with deliveries via

pipelines may occur.”

He also said that work is ongoing to

determine the location where the

country’s third nuclear power plant

will be established. “The likely location

is the Thrace region,” Dönmez added.

Construction of the Akkuyu Nuclear Power

Plant continues at “full speed,” he said,

recalling that a second nuclear plant is

planned to be built in the province of


December 2022 26

Russia increases gas exports

to China, reducing market

dependence on Europe

In an attempt to wean the country from its

dependence on the European gas market,

Russia has increased gas exports to China,

using the Siberia pipeline.

The pipeline, also known as the Eastern

Route, delivers energy “via the mega gas

pipeline regularly” and it exceeds daily

“contractual obligations”.

The pipeline became functional in 2019,

spanning 3,000 kilometres, and has the

capacity of carrying 61 billion cubic metres

of gas per year, with 38 billion cubic metres

slated for export.

The two countries are working toward

developing another gas route through

Mongolia called Soyuz Vostok.

Expanding its energy market in China has

been one of its top priorities for Russia. As

Beijing is in the process of phasing down

coal usage, the Kremlin seems eager to

“exploit the opportunity” in light of their

growing alliance.

Gazprom, the Russian energy giant, said

that it supplied 42.6 percent less gas to

countries outside the Commonwealth of

Independent States (CIS), a segment that

includes most of the European Union.

The Gazprom report noted that total

exports had decreased from 158.8 billion

cubic metres (bcm) of gas in the first ten

months of 2021 to 91.2 bcm in the first ten

months of 2022.

European countries whose gas purchases

from Gazprom remain capped have been

stockpiling gas thanks to unusually mild

autumn weather –– Bloomberg noted that

in the past, Russia had regularly supplied

about a third of Europe’s gas consumption.

Even while EU gas storage sites remain

at a 94 percent capacity, higher than the

past five years’ seasonal average of 89

percent, Bloomberg pointed out the words

of Gazprom Chief Executive Officer Alexey

Miller, who said if the weather were to

get abnormally cold, Europe’s gas reserves

wouldn’t keep citizens warm throughout

the winter.

Bloomberg quoted Miller as adding

“Europe could lack some 800 million

cubic metres of gas a day without Russian

supplies during high demand.”

According to Bloomberg, Gazprom

continues to supply gas flows via Ukraine

at capped levels and “those to Hungary

and Serbia are going through one leg of the

TurkStream pipeline” that runs from Russia

to Türkiye

December 2022 28

More tourists to rush to Türkiye this

winter as European prices soar

Turkish travel companies are expecting a

rush of European tourists in the months

ahead amid higher demand following the

coronavirus pandemic and as energy prices


“This winter we expect more tourists

than in previous years,” Cem Polatoğlu,

spokesperson for the travel operators’

association Tur Operatörleri Platformu, told

Deutsche Presse-Agentur (dpa).

“During the pandemic, people could not go

on holiday for a long time. Now that travel

restrictions have been lifted, many tourists

will feel as though they have ‘broken free

from chains,’” he said.

Additionally, the high costs of energy in

Europe are also leading to an increase in

reservations during the winter season,

particularly for accommodation that costs

less, he said.

Europe faces an acute energy crunch

heading into winter after Russia cut gas

supplies in response to Western sanctions

imposed over its invasion of Ukraine.

“It is positive for the tourism sector that

European tourists – especially pensioners

– prefer long holidays in Türkiye during

the winter months due to the increase in

natural gas prices,” said Ali Onaran, chair of

tour operator Prontotour.

He said his data showed that demand

was particularly high “from countries like

Germany, England and the Netherlands.”

Onaran said it was encouraging that more

people were booking their holidays during

the winter period despite global inflation.

“There are developments such as rising fuel

costs, energy expenses, food crises, which

affect ticket and hotel prices and therefore

people’s overall travel budget,” he said.

Despite those factors, bookings were in line

with tour operators’ expectations.

A further incentive for people to head to

Türkiye on their holidays may be the weak

Turkish lira, according to Polatoğlu.

For tourists, he said that booking a package

holiday at a five-star hotel in Türkiye

currently costs less than spending the time

in Europe. “And with much more comfort

than at home,” Polatoğlu added.

Rebound in Türkiye’s critical tourism

industry this year has been driven by

a major leap in demand from Europe,

spearheaded by Germany and the United

Kingdom, as well as Russia.

The number of holidaymakers more

than doubled in the first eight months

of the year. Around 29.3 million tourists

arrived in Türkiye from January through

August, marking a 108.5% climb from a

year ago, on pace to roughly match the

pre-pandemic levels of 2019, according to

Culture and Tourism Ministry data.

The first eight-month figure stood at 14.1

million in 2021, 7.2 million in 2020 and 31

million in 2019.

The arrivals have been mainly backed by

Russian visitors, who increasingly opted for

Türkiye due to flight restrictions applied

by Western countries after Russia invaded

Ukraine, as well as tourists from Europe.

However, the number of German and

British visitors rose strongly this year.

At 3.85 million, tourists from Germany

topped the list among nations and made up

13% of all visitors in the first eight months,

with arrivals jumping 105.73% from a year

ago. Russians followed with just over 3

million, a 22.8% year-over-year increase,

and Britons ranked third with 2.36 million,

a whopping 2,120% surge from the same

period in 2021, according to the data.

Tourism revenues are vital to Türkiye’s

economy as the government’s new

economic program focuses on flipping

the chronic current account deficits to a

surplus, prioritizing exports, production

and investments, and aiming to lower the

increase in consumer prices.

The government raised its year-end targets

in July to 47 million tourists and $37 billion

in revenues, up from its earlier targets

of 45 million arrivals and $35 billion in

income. The number of foreign visitors

soared 94.1% to 24.71 million last year

when COVID-19 measures were eased

compared to 2020. Tourism revenues

doubled to almost $25 billion but remained

well below the level recorded in 2019.

December 2022 30


Turkish furniture,

paper exports

outperform 2021


Türkiye’s total exports of furniture, paper

and forestry industry products have

reached $6.92 billion (TL 128.75 billion)

in the January-October period, with an

increase of 24% compared to the same

period of the previous year, data showed.

While the increase in overall exports across

the country was 15% in 10 months, there

was a 24% increase in the furniture sector.

With this rise, the sector almost reached

the exports made throughout 2021 which

was $6.99 billion, the data by the Istanbul

Furniture, Paper and Forest Products

Exporters’ Association (ORSİAD) showed.

The share of the furniture industry,

meanwhile, in this figure amounted to

$3.93 billion with an increase of 13.9%.

Erkan Özkan, head of the ORSİAD, said

that although there were difficulties in

supplying raw material all over the world,

adding, however, that “our exporting

companies were affected by this at a

minimum level with the bilateral relations

they have established.”

He said they aim to reach $5 billion in

furniture exports by the end of this year by

maintaining the current success.

Iraq took the lion’s share with $432.1

million among the countries to which the

furniture industry exported the most,

followed by Germany with $333 million and

Israel with $207.8 million.

Meanwhile, Türkiye’s furniture exports to

Qatar rose by 97% making it the country

with the highest increase in exports this


The most exported products of the sector

in the said period were bedsteads and

cradles for children, wooden furniture for

dining and living rooms, metal furniture

and compact furniture that can be turned

into a bed.

December 2022 32

Automotive exports top

$2.6 billion in October

Türkiye’s automotive exports increased

by 1.8 percent in October from a year ago

to $2.65 billion, the Uludağ Automotive

Industry Exporters’ Association (OİB) has


The industry’s share in the country’s overall

export revenues was 12.4 percent.

“Despite inflation, looming risks from the

global recession and the contraction in

the eurozone, our exports continued to

grow,” said Baran Çelik, board chair of OİB,

noting double-digit increases in sales to the

German, Russian and Belgian markets.

The supply industry’s exports rose by 13

percent in October from the same month

of 2021 to reach $1 billion but passenger

car exports dropped 20 percent year-onyear

to $748 million, according to data

from the OİB.

Exports of towing vehicles exhibited an

annual increase of 95 percent to stand at

$214 million.

Germany was the largest market for

local automotive companies. Exports to

Germany grew 15 percent from a year ago

to $404 million. The U.K. came second at

$285 million, rising 9 percent on an annual

basis. Exports to France increased by 12

percent compared with October 2011 to

$252 million.

Data from the OİB also showed that

exports to other key markets, namely

Belgium, Russia, Romania and Portugal

grew by 32 percent, 23 percent, 21 percent

and 79 percent, respectively.

From January to October, the automotive

industry’s exports reached $25 billion,

exhibiting an annual increase of 5 percent.

Türkiye may become important global


Meanwhile, Tuğrul Arıkan, general manager

of carmaker Anadolu Isuzu, said that no

country in the global supply chain has as

strong infrastructure in the automotive

industry as Türkiye has. Türkiye may

become an important global player in

this field, replacing other companies as a

supplier, he added.

“There will be much better developments

for the Turkish automotive sector going

forward in 2023 and 2024. We need to

catch up with the ongoing technological

transformation in the supply and main

automotive ndustries and we need

to encourage the use of domestically

manufactured products,” Arıkan said.

As far as Anadolu Isuzu’s operations are

concerned, Arıkan noted that last year the

company introduced its first 8-meter-long

electric bus to the market. “We are working

to launch the 12-meter and 18-meter long

buses in 2023 and thereafter. We are also

working on an electric minibus,” he said.

Anadolu Isuzu is also looking into hydrogen

technology, Arıkan added.

“Our main focus is electric [cars] but we

have started studies on hydrogen. We have

identified the companies which we are

going to work with. Hopefully, we will be

able to introduce our hydrogen vehicle,

which will be more likely an inner-city bus,

at the end of 2024 or in early 2025,” he


December 2022 36

Turkish Airlines teams up with exporters

Under the deal, the flag carrier will

offer discounts between 5 to 30 percent

for cargo weighing more than 1 ton to

be delivered to 40 destinations in 31


Turkish Airlines will deliver regular goods as

well as perishable products such as fruits,

vegetables, fish and eggs.

Turkish Cargo was the fastest growing

air cargo carrier in the world in 2021

and 2022 and increased its share in the

market to 5 percent, said Ahmet Bolat, the

chairman of Turkish Airlines’ board and

executive committee, noting that with its

performance Turkish Cargo was ranked

fourth among the top air cargo companies

in the world.

Bolat recalled that the carrier previously

signed two protocols with the TİM during

the pandemic to deliver exporters’ cargos

to different destinations.

The latest agreement inked with the TİM

foresees an export volume of $2.1 billion,

he added.

“Türkiye’s average export range is presently

3,065 kilometers, but we want to increase

this to the world average of 4,744

kilometers,” said Mustafa Gültepe, the

president of the TİM.

This year, exports by air have reached $10.3

billion and 158,000 tons of goods were

delivered by air cargo, he added.

Turkish Airlines reported earlier this month

that its cargo revenues soared 140 percent

in January-September this year from the

same period of 2019 to $2.92 billion.

December 2022 38

Türkiye’s historical record in the

Global Innovation Index

In the Global Innovation Index announced

by the World Intellectual Property

Organization, the Switzerland-based

organization of the United Nations, and

in which 132 countries compete, Türkiye

rose four steps in 2022 to the 37th place.

Rising 14 places in the last two years,

Türkiye managed to enter the top 40 in the

index for the first time. The 2022 Global

Innovation Index was announced by the

World Intellectual Property Organization

(WIPO), the Swiss-based agency of the

United Nations, with the main theme

“What is the Future of Innovation-Driven

Growth?”. In the index, which evaluates

132 countries, Türkiye continued its upward

trend and reached the best position in its

history with 37th place. Türkiye, which has

improved by 14 steps in the last two years,

also maintained its 4th place among the

upper-middle income group countries.

Among the upper-middle income group

countries, Türkiye performed above

the group averages in six of the 7 main

components. Türkiye’s best performing

component was “Innovative Outcomes”.

In this component, Türkiye ranked 15th

with an increase of 20 steps compared to

last year, ranking first among the North

Africa/West Asia group countries. In the

“Versatility of Markets” component, it rose

12 places to 37th. This year, Türkiye, which

outperformed its inputs in innovation

outputs, managed to take place in the

top 10 in 6 indicators. Türkiye ranked first

among 132 countries in the “industrial

designs by origin” indicator.

The report also highlighted that Istanbul

and Ankara are home to two leading

science and technology clusters. Istanbul

moved up four spots to 46th among the

best science and technology clusters,

overtaking Brussels, Barcelona, and Zurich.

Evaluating the Global Innovation Index

2022 Report, Industry and Technology

Minister Mustafa Varank said, “Türkiye is

at its highest level in its history. We have

moved up 14 places in the last two years,

ranking 37th out of 132 countries. The R&D

and innovation ecosystem that we have

built from scratch in 20 years will continue

to write new success stories.”

Stating that they have implemented

policies and mechanisms that support

innovation with the vision of the National

Technology Move for Türkiye, and that

they have deepened our R&D, innovation

and entrepreneurship ecosystem day by

day, Minister of Industry and Technology

Mustafa Varank emphasized that the index

is an effective policy tool in evaluating and

improving the innovation performance of

countries. Varank said in his statement:

“I think the index has 3 main benefits.

Firstly, it allows to analyze innovation

performance from different angles on

an annual basis and with comprehensive

indicators. Secondly, it allows to discover

potential areas of intervention by seeing

December 2022 40

the strengths and weaknesses of the

ecosystem. Finally, it lays the groundwork

for the development of evidence-based

structural reforms to address these areas of

intervention. In this direction, we have first

established the Türkiye Global Innovation

Index Task Force. Then, we determined

the responsible institutions for the missing

or outdated data in the index, and we

started the cooperation process with the

international organizations that provide

data to the index. In order to monitor the

developments in the indicators, we have

established the Global Innovation Index

Coordination and Monitoring Platform. As a

result of the policies we have implemented,

support mechanisms and initiatives we

have initiated, our country has achieved

this historic success.”

Evaluating the Global Innovation Index

2022 Report, Minister of Trade Dr. Mehmet

Muş made the following assessment:

“Today, innovation is consolidating its

place among the main determinants of

economic growth and competitiveness

in the international arena day by day.

From the invention of agriculture and the

discovery of the wheel to the present day,

when we have smartphones in our hands

that have millions of times more powerful

operating capacity than the computers

in the control room of Apollo 11, which

carried astronauts to the moon in 1969,

mankind has always been in elbow contact

with innovation. With the beginning of

the 21st century, the innovation that

emerged in many areas such as self-driving

tools, artificial intelligence applications

and blockchain technologies, big data

applications, which we came across

in science fiction novels or films a few

decades ago, has started to rapidly shape

and transform the future of countries and

humanity. In innovation, speed is not our

enemy, on the contrary, it is our closest

friend today, where innovative ideas and

practices are faster than ever before. For

this reason, Türkiye’s reaching the place

it deserves in the world in the innovation

race is perhaps one of the guarantees of

taking firm steps forward to the future as

an existential issue. Moreover, I believe

that it has become impossible to predict

the fate of countries from now on free

from the efforts and outputs of innovation

and technological development.

The effective innovation requires a strong

innovation ecosystem that emerges

with the harmonious cooperation and

interaction of many stakeholders and

elements such as public and private

sector institutions and organizations,

universities, investors, companies,

supportive political and legal

infrastructure, resource allocation.

Here, in addition to what the public

should do, all our companies, especially

our exporter companies, Innovative a

necessity to make a technology-oriented

future planning with a perspective,

innovation I think raising awareness is a

vital issue. As a matter of fact, the fact

that we have started to reap the fruits of

our R&D studies in the defense industry

has proved to all of us how important

this field is. We, as the Ministry, always

work with our companies’ technology

and innovation we see assisting and

consulting with their focused efforts as a

necessity beyond satisfaction.

When we look at the patent application

data of the World Intellectual Property

Rights Organization, we see that there

is a positive trend in Türkiye’s patent

applications and that approximately 10

thousand patent applications have been

filed annually in recent years. I believe

that technology and innovation with

the further increase of focused business

culture and awareness, our country will

rise to much higher ranks in the world

in both our R&D expenditures and

international patent applications and


TİM Chairman Mustafa Gültepe, who

participated in the introductory meeting

of the Global Innovation Index 2022

with a video message, said that they

lead exporters to adapt to the digital age

with innovation. Emphasizing Türkiye’s

success in innovation, TİM Chairman

Gültepe continued:

“Under the leadership of Mr. President,

with the support of our Ministries and

the contributions of our institutions

in the task force, we rose 10 places

to 41st in the index in 2021. Last

year, we also broke the record in the

history of the Republic by reaching

225 billion dollars in exports. With

TİM’s efforts towards the innovation

and entrepreneurship ecosystem and

the increasing competitiveness of our

companies, Türkiye continued its rise this

year. In 2022, we broke the record of 15

years in which the index was published

and reached the highest position in our

history with the 37th place. Innovationoriented

growth will increase the

competitiveness of our exporters and

enable them to find a stronger place in

global trade.

Within the scope of the Investment

Environment Improvement Coordination

Board (YOIKK) Action Plan, the “Global

Innovation Index Action Plan” studies

were launched in 2020. At the meeting

held under the chairmanship of Vice

President Fuat Oktay on June 30, 2020, it

was decided to establish a task force to

accelerate the work to increase Türkiye’s

position in the Global Innovation Index.

Global Innovation Index Türkiye Action

Plan and Strategy (2021-2023) was

prepared. The strategy document, which

was prepared with the coordination of

the Ministry of Industry and Technology,

the TİM Secretariat and the contributions

of 20 different public institutions and

organizations, will be presented to WIPO

Director Daren Tang this year.




China’s chip

maker to raise

billions amid US

export curbs

Chinese chip manufacturer Hua Hong

Semiconductor has received regulatory

approval for an 18 billion yuan ($2.5 billion)

IPO in Shanghai, according to a Hong Kong

stock exchange filing.

The planned initial public offering (IPO)

comes as China’s chip companies gear up

for steeper competition with the United

States due to geopolitical tensions.

US President Joe Biden introduced

unprecedented export curbs aimed at

stopping Beijing from acquiring advanced

semiconductor technology.

New rules bar American citizens, residents

and green-card holders from working with

China’s chip makers. Hua Hong says it

intends to use the money to invest in a new

fabrication plant – or fab – in the eastern

city of Wuxi, with construction set to

begin in 2023 and an eventual production

capacity of 83,000 wafers per month.

The company currently has four fabs in

total – three 8-inch fabs in Shanghai,

and one 12-inch fab in Wuxi currently

expanding to 95,000 wafers per month.

The proceeds from the IPO will also go

to upgrading the latter fab, according to

its prospectus. Hua Hong’s Shanghai IPO

will follow that of China’s Semiconductor

Manufacturing International Corp (SMIC),

China largest chip manufacturer.

Washington has barred US-based

equipment makers from selling tools to

Chinese foundries for production of logic

chips produced at 14-nanometers and

below. Hua Hong specialises in mature

technology, and generates most of its

revenue making chips using 55-nanometer

process technology.

The company has a global market share

of 3.2 percent of the foundry business,

according to research firm TrendForce.

December 2022 44

Türkiye foresees 5% economic growth for 2022, 2023

The leading indicators of the economy for

the second half of 2022 point to moderate

growth and Türkiye’s gross domestic

product to grow 5% in 2022, amid a global

slowdown, Treasury and Finance Minister

Nureddin Nebati said.

Speaking to Parliament’s Planning and

Budget Committee, Nebati said the

economic growth, expected to maintain its

balanced outlook in 2023, is targeted to be

5% again next year.

“In a period when challenging global

conditions are experienced and the global

conjuncture is changing rapidly, the

‘Türkiye Economy Model’ aims to ensure

macroeconomic and financial stability and

price stability simultaneously, to encourage

high value-added production, to turn the

change in supply chains into an opportunity

and to permanently solve the current

account deficit problem,” Nebati reiterated.

Stating that a significant improvement was

achieved in the non-energy current account

balance, significant gains were achieved in

investment, employment, production and

exports, Nebati said, “In this period when

the risk of recession has increased for

many developed and developing countries,

the Turkish economy continues to grow

strongly thanks to our model, and the

composition of the growth also displays a

balanced outlook.”

“Türkiye is the fastest growing country in

the G-20 with a GDP growth of 11.4% in

2021 and recorded the highest growth rate

in the last 50 years,” he said.

Nebati noted that some 6.6 points of this

growth come from domestic demand and

4.8 points from net foreign demand and

the net foreign demand to growth is the

highest figure reached after 2001.

“Despite the uncertainty caused by the

war between Russia and Ukraine and the

weakening global economy, our gross

domestic product grew by 7.5% in real

terms in the first half of 2022,” he said,

noting: “With a growth rate of 7.6% as of

the second quarter, Turkey was among

the fastest growing countries in the OECD.

In the first half of the year, our economy

maintained its balanced outlook in line

with our sustainable and healthy growth


Goldman Sachs and Moody’s have also

raised recently their forecast for Türkiye’s

2022 economic growth. Goldman Sachs

said it revised upward its GDP growth

forecast for Türkiye for this year to 5.5%

from 3.5% while lifting its 2022 current

account deficit forecast to $45 billion from

$36 billion. Moody’s also said in a report

in September that it raised its 2022 growth

estimate to 4.5%, up from 3.5%.

Nebati further commented that total

employment in the country rose above

the pre-pandemic period and reached

historically high levels.

Emphasizing that exports continue to

break historical records, Nebati stated that

with the steps taken within the scope of

the Turkish Economy Model, exporters

succeeded in turning the disruptions in the

global supply chain into opportunities and

made exports the locomotive of growth.

“Our exports broke a record in every month

of 2022 and reached the highest level in

the history of the republic, exceeding the

annualized $253 billion in October.”

Nebati stated that total imports increased

with energy imports, which remained high

due to rising global energy prices.

Pointing out that tourism has grown

at a rate above the world average and

outperformed its pre-pandemic levels,

Nebati noted that they expect the course of

tourism to continue for the rest of the year

and a performance well above the record

revenue in 2019.

Nebati said, “While the current account

balance gives a deficit due to energy

imports, the current account balance

excluding energy continues to have a


Nebati stated that the country aims to

permanently improve the current account

balance in the medium and long term with

the policies implemented.

Apart from the investments made in the

renewables sector, the country aims to

reduce foreign dependency on energy

and to further reduce the pressure on

the current account balance and external

financing needs by commissioning the

natural gas discovered in the Black Sea by

2023, he added.

Speaking on the fight against inflation,

Nebati stated that they gave up TL 276.8

billion ($14.89 billion) of tax revenue this

year as part of this. Drawing attention

to the tax cuts aimed at increasing the

purchasing power and welfare of the

citizens, Nebati said that they also support

the most basic expenditures of the citizens.

Reminding that they provide an 80%

subsidy for natural gas used in households

and 50% subsidies for electricity, Nebati

said, “We provide electricity consumption

support up to 150 kilowatt-hours to 2.1

million households. Our target is to increase

this support to 4 million households.”

December 2022 48

Winter eurozone recession looms as inflation hangs on

The eurozone economy will slide into

recession over the winter and will

grow less than expected next year, the

European Union’s executive commission

said.The warning comes as peak inflation

hangs on for longer than expected

and high fuel and heating costs erode

consumer purchasing power.

High energy prices, the rising cost of

living, higher interest rates and slowing

global trade “are expected to tip the EU,

the euro area, and most member states

into recession in the last quarter of the

year,” the forecast highlighted.

The growth forecast for all of 2023 was

lowered to 0.3% from the 1.4% expected

in the previous forecast from July.

“The EU economy is at a turning

point,” said Paolo Gentiloni, European

commissioner for the economy.

“After a surprisingly strong first half of the

year, the EU economy lost momentum in

the third quarter and recent survey data

point to a contraction for the winter,” he

told reporters in Brussels. “The outlook

for next year has weakened significantly.”

The worst performer next year is likely to

be Germany, Europe’s largest economy

and one of the most dependent on

Russian natural gas before the war in

Ukraine. Germany was expected to see

the output shrink by 0.6% over the next


Gas and electricity prices have soared as

Russia has dialed back supplies to Europe

to a mere trickle of what they were before

the invasion of Ukraine. European officials

say the cutbacks are energy warfare by

Russia to punish EU member countries

for their support for Ukraine, while

state-owned supplier Gazprom has cited

technical reasons and a refusal by some

customers to pay for gas in rubles.

Inflation will peak later than expected,

near the end of the year, and will lift the

average rate to 8.5% for 2022 and to

6.1% for 2023 in the eurozone. That is an

upward revision of nearly 1 percentage

point for 2022 and over 2 points for 2023.

Two consecutive quarters of falling output

is one common definition of recession,

although the economists on the eurozone

business cycle dating committee use a

broader set of data including employment


“We are approaching the end of a year

in which Russia has cast the dark shadow

of war across our continent once again,”

Gentiloni said.

But apart from the expected technical

recession, the eurozone’s unemployment

rate, aggregated deficit, and debt or

the current account balance will not

deteriorate much, if at all, the forecasts

showed. The commission indicated that

the job market was likely to hold up

relatively well despite shrinking output

over the winter, forecasting an increase

in the unemployment rate from 6.8% this

year to 7.2% next and a decrease to 7% in


“The EU economy has shown great

resilience to the shockwaves this has

caused. Yet soaring energy prices and

rampant inflation are now taking their

toll and we face a very challenging period

both socially and economically,” Gentiloni


December 2022 50

Europe could face gas

shortage next year: IEA

Europe must act immediately to prevent

a shortage of natural gas next year as

Russia slashes deliveries in the wake of

the Ukraine war, the International Energy

Agency warned.

The IEA said the shortfall would occur if

Russia stops pipelines deliveries completely

and China steps up its imports of liquefied

natural gas, which Europe has relied upon

to replace Russian supplies.

The region could lack 30 billion cubic

metres that it needs “to fuel its economy

and sufficiently refill storage sites during

the summer of 2023, jeopardising its

preparations for the winter of 2023-

24,” the Paris-based agency said in a

report. “We believe Europe needs to take

immediate action to avoid risks of natural

gas shortage next year,” EA Executive

Director Fatih Birol told reporters.

“We’re ringing alarm bells for the European

governments and for the European

Commission for next year,” he said.

Russia has drastically cut supplies to Europe

in suspected retaliation against Western

sanctions over its

invasion of Ukraine,

but the region

was able to fill

storage sites for this

upcoming winter.

The IEA said Moscow delivered 60 billion

cubic metres of gas to Europe this year but

that it was “highly unlikely” that Russia

would provide the same amount in 2023

and could cease deliveries entirely.

And while Chinese LNG imports were

lower in the first 10 months of this year,

the world’s second biggest economy could

grab 85 percent of the expected increase in

global LNG supplies if its purchases recover

next year.

European Union governments have urged

business and households to conserve

energy this winter in efforts to lower

demand and scrambled to find alternative


Norway has overtaken Russia as Europe’s

main natural gas supplier. The region has

also shipping LNG from other countries at

a rate that has caused bottlenecks at ports.

Gas prices, meanwhile, have fallen sharply.

But Birol said Europe’s gas storage sites

may only be 65 percent full in 2023,

compared to 95 percent this year.

“With the recent mild weather and

lower gas prices, there is a danger

of complacency creeping into the

conversation around Europe’s gas supplies,

but we are by no means out of the woods

yet,” Birol said in a separate statement.

Birol warned that Europe will face “an even

sterner challenge” next winter.

“This is why governments need to be

taking immediate action to speed up

improvements in energy efficiency and

accelerate the deployment of renewables

and heat pumps -- and other steps to

structurally reduce gas demand,” he said.

December 2022 52

Türkiye eyes wider share in

global services exports’

Türkiye wants to expand its share in global

services exports with newly-developed

incentives, Deputy Trade Minister Özgür

Volkan Ağar said at the Services Export

Summit, held under the scope of the

Türkiye Export Campaign, launched by the

Sabah daily.

Noting that Türkiye only had a 1% share

in the global services sector in 2021, with

$61 billion worth of services exported,

Ağar said the country’s new support and

incentive package announced by the

government in 2022 will boost these


Meanwhile, associate professor Mustafa

Aydın, the deputy president of the services

export association, noted that the sector,

which includes 10 sub-categories, including

education, health and port services, makes

great contributions to the Turkish economy

and the current account deficit.

“It is crucial to produce paths for new

initiatives, new fields and markets in the

services export sector,” he told the panel.

December 2022 56

Moroccan Automotive Industry Show

International Automobile Spare Part Fair

organized by Global Fairs & Events within

the Office des Changes of Casablanca

attracts global interest.

During the last decade, the automotive

industry has been constantly rising to

sustainable levels of growth in Morocco.

Its outstanding performance allowed

the country to become the number 1

Manufacturer in Africa, and generated

more than 72 billion MAD in export,

making the automotive industry the

top exporting sector in the country.

Additionally, it is expected to grow even

more in the upcoming 5 years and is

expected to register a CAGR of 5.6% by


As an international industrial trade show

dedicated to the spare parts sector and

automotive industry, MATS strives to

assemble the best and widest range

on offer from product and equipment

manufacturers and distributors. MATS

fulfils its role both as a major industry

event and as a decision-making tool

to choose the right solutions for car

repairs, servicing and equipment or for

sourcing new suppliers for importers and

distributors. You will be able to meet your

suppliers in international manufacturers

of auto parts and components seminars

dedicated to localization plans and hold

negotiations with domestic and foreign


Major products to be exhibited are:

Parts and Components • Engine and

mechanical systems • Gearbox, exhaust,

axle, steering brakes and suspension

• Electrical and electronic systems

• Tires, Wheels and batteries. Accessories

and spare parts • Interior lining

• Car audio and video systems

• Navigation and telecommunications


• Air conditioning systems • Vehicle safety

and security systems Repair & maintenance

• Equipment and tools • Body repair

• Protection against corrosion • Disposal

and recycling

• Lubricants, oils and auxiliary materials.

Car wash, service station and car care •

Washing facilities and accessories

• Cleaning and maintenance products

• Charging station and equipment

December 2022 58

Türkiye says on course to achieve

$250B exports despite challenges

Trade Minister Mehmet Muş said Türkiye

remained on course to achieve its year-end

exports target, despite global uncertainties

spearheaded by deteriorating demand in

Europe. Demand in the country’s largest

market is expected to weaken even further

in the coming period, constituting a serious

risk for Türkiye’s trade. The gloomy outlook

was affirmed by data that showed demand

in Türkiye’s key export markets continued

to weaken in October.

“As of now, we think we will achieve

this (2022) goal. There is no question of

any deviation from this goal,” Muş told

the sixth edition of the Türkiye Export

Mobilization Summit.

The event was organized by Türkiye’s

leading media group and Daily Sabah’s

parent company, Turkuvaz Media, in

Istanbul. Türkiye’s exports remained

buoyant and rose 15.4% from January

through October this year to $209.5 billion,

according to official data, marking an

all-time 10-month high. Türkiye has set a

$250 billion export target for this year, after

reaching a record $225 billion in 2021.

Regarding 2023, Muş said they would

“reflect all our energy on the field” to

ensure exports stay on the upward path.

Muş said there has been a slowdown

in the growth trend of exports, citing

weakening demand in the European

Union, where almost half of the Türkiye’s

shipments go.

“A slowdown there (in Europe), whether

we want it or not, a drop in demand there

affects our exports,” he said.

Shipments to the EU jumped 13.5% in the

first ten months, with Türkiye enjoying a

$9.7 billion surplus in trade with the bloc.

Muş stressed Türkiye’s efforts to diversify

markets and cited the government’s

strategy to boost sales to remote


“The share we have in the world exports is

1%, but the share we hold in the countries

we identify as distant countries is 0.25%.

Therefore, we have a goal to raise it to the

same level,” he added.

“We want to increase our share here to

the average level of 1%, which is the share

we receive from the world. This means

an increase in exports to us with today’s

figures of an additional $80 billion.”

This is a difficult process, Muş said, citing

challenges regarding logistics, planning

and distribution channels. But he noted

the expanded trips, fairs and organizations

in the targeted markets.

Muş expressed that the image of Türkiye

and Turkish products in remote countries

is “very positive,” stressing that they

would focus very intensively on them in

the coming period and that these studies

may take up to four months.

He stated that the EU would retain its

weight in this period but said markets of

similar importance may emerge in the

period ahead.

Muş said the uncertainty was the main

factor triggering the slowdown in demand

for exports, warning that 2023 would be

an even more challenging year for the


“Costs are financed in some way, the

size of financial costs or the size of

investment costs are somehow endured,

but the negativity of expectations about

the future, the expectation of what will

happen, stops everything,” the minister


“In other words, another development

can happen in a country when you never

expect it. Therefore, this expectation

inevitably reduces investment decisions

and demand incredibly.”

Muş cited downward revisions by

international organizations for the global

economy, including the EU.

“They are revising downward their growth

expectations for trade for 2023. Therefore,

the year 2023 will be more difficult for the

world than 2022,” he said.

December 2022 60

Turkish Airlines receives sustainability award

Turkish Airlines has been awarded the

“Airline Sustainability Innovation of the

Year” award by the Centre for Aviation


“Turkish Airlines, which puts sustainability

at the center of its business model, won

this award within the scope of sustainable

innovation with the ‘Microalgae Based

Sustainable Bio-Jet Fuel Project [MICRO-

JET],’ in which it worked closely with

scientists to develop the world’s first

carbon negative sustainable aviation fuel

[SAF],” the flag carrier said in a statement.

Micro-Jet, jointly carried out with Boğaziçi

University, aims to produce biofuels from

microalgae using hydro-processed fatty

acids and hydrothermal liquefaction

methods. Turkish Airlines plans to use

this biofuel, which will be obtained from

sustainable sources and is a project output

that contributes to nine of the United

Nations Sustainable Development Goals,

in its flights after the engine tests to be

carried out by Turkish Technic.

When the national flag carrier uses this

fuel, it will be one of the few global

companies that can use the cleanest type

of biofuel, the statement added.

“As the airline that flies to more countries

than any other airline in the world, we

appreciate the sustainable aviation fuel as

a key element in our sustainability strategy

on reducing aviation’s environmental

impact,” said Levent Konukçu, chief

investment and technology officer at

Turkish Airlines.

“We will continue to invest and support

sustainable aviation fuels and focus on the

future of our world.”

Turkish Airlines said it received APEX World

Class and 2023 Five Star Global Airline

awards with its service standard from the

Airline Passenger Experience Association

(APEX ), one of the world’s most trusted

and prominent aviation organizations.

December 2022 62

Europe’s Electric vehicle 2022 sales grow in

Q3 despite economic challenges

Following a series of economic downturns, the European electric

vehicle (EV) market is showing resilience despite the prevailing

macroeconomic factors that have impacted consumer spending.

In particular, data acquired and calculated by Finbold on November

29 indicates that as of Q3 2022, the total number of Battery Electric

(BEV) and Plug-in Hybrid Electric (PHEV) new passenger vehicles

registrations in Europe stood at 571,377. The value represents

a quarterly increase of about 1.98% from Q2’s value of 560,266.

During Q1, the region recorded a registration of 562,276 units.

A breakdown of the car types indicates that BEVs stood at 355,336

in Q3, slightly increasing from Q2’s figure of 322,144, while in the

first quarter, the registration was 325,285. Elsewhere, during the

third quarter of 2022, the total registered PHEVs was 216,041, a

drop from Q2’s 238,122. During Q1, the region had 236,991 new

PHEV units.

Notably, the total number of new passenger car registrations across

Europe with an alternative fuel type recorded a quarterly drop

of 2.47% to 1,265,947 in Q3. In Q2, the cars stood at 1,297,966,

representing a drop of 2.88% from Q1’s 1,336,523.

Drivers of Europe’s EV market growth

The research acknowledged that the European EV market had

grown significantly while highlighting some key drivers. According

to the research report:

“In general, the European EV market’s previous growth has

been attributed to factors like increased income levels within a

climate-conscious population, robust government support for the

EV industry, and an extensive public-private partnership for EV

charging infrastructure.”

Despite the growth, the EV space still faces several hurdles, with

the cost factor emerging as a critical obstacle. At the same time,

how the prevailing economic conditions will impact the sector is yet

to be seen.

Read the full story with statistics here: https://finbold.com/


Find one of the charts below:

December 2022 64

Renault unveils

major revamp,



with Geely

French automaker Renault announced

a major reorganization, splitting its

operations into a new electric vehicle unit

and a separate internal combustion engine

division with China’s Geely.

The flagship division of its revamp, electric

vehicle and software entity Ampere, was

being prepared for an initial public offering

(IPO) on the Euronext Paris in the latter

half of next year at the earliest, it said in a


The new entity will employ around 10,000

staff in France and produce the R5 and 4L

electric vehicles in the north of the country,

the carmaker said as it outlined the revamp

for investors.

The electric vehicle market is expected to

grow rapidly in response to consumers’

worries about climate change, putting

pressure on manufacturers to develop less

polluting products.

The European Union agreed to phase out

new carbon dioxide-emitting vehicles

by 2035, a move set to turbo-charge the

production of electric prototypes on the


Renault said it plans to invite investment

in Ampere but would remain the majority

shareholder with “the support of potential

strategic cornerstone investors.”

Renault also intends to combine its

technological, manufacturing and research

and development activities for its hybrid

and internal-combustion vehicles with

Chinese automaker Geely in a new entity,


The groups will share the division to design,

develop, produce and sell components and

systems for hybrid and internal-combustion

vehicles, employing 19,000 people at 17

powertrain factories and three research

and development hubs across Europe,

China and South America.

In 2020, Renault suffered a historic loss

and its recovery was destabilized by its

withdrawal from Russia following Moscow’s

invasion of Ukraine. The value of traditional

car manufacturers pales in comparison to

new players on the market specializing in

electric vehicles such as Elon Musk’s Tesla

or Chinese firm BYD.

Renault still needs a large investment

to accelerate its electric transformation

according to plans it presented in 2020.

U.S. giant Ford has taken similar steps,

announcing the the “Ford Model E”

earlier this year. The announcement

comes as the sales of traditional internalcombustion

vehicles fall. In the first nine

months of 2022, hybrid and electric

vehicles represented 38% of the brand’s

registrations in Europe, a year-on-year

increase of 12%.

The separation of Renault’s activities

has concerned trade unions after several

waves of job cuts. Investors expressed their

interest in Renault’s transformation, with

the group’s stock value climbing 3.77% on

the Paris stock market.

December 2022 68

Wiesmann reveals next generation technologies for

latest Project Thunderball – the world’s first

all-electric convertible roadster

Wiesmann, the luxury sports car marque,

has revealed further technical details of

its highly-anticipated all-electric vehicle

codenamed Project Thunderball – a

vehicle that represents a return for the

iconic brand with the world’s first electric

convertible roadster. Designed with

Wiesmann’s DNA running throughout, the

car is an evolution of the exclusive German

brand’s history combining the distinctive,

sleek, looks of a Wiesmann with a modern,

highly engineered, electric powertrain

providing breath-taking performance.

The two-seater, rear-wheel drive Project

Thunderball sees twin electric rear-mid

mounted motors delivering up to 500kW

(680hp) to the rear wheels and 1100 Nm

of torque, bringing phenomenal straightline

performance and a targeted 0-62mph

(0-100km/h) sprint acceleration time of 2.9

seconds. Wiesmann’s precise engineering

of the cutting-edge electric powertrain

is key to delivering an emotional driving

experience that is a trademark of

Wiesmann sports car, embodied in timeless

design that befits a performance EV of the

modern era.

Platform and packaging

Project Thunderball has been built on

a bespoke chassis architecture with its

powertrain components cleverly packaged

to provide the lowest possible centre

of gravity. To keep the typical roadster

proportions, the position of the driver and

passenger are positioned as far backward

as possible, presenting a challenge to

integrate the drivetrain and large battery

into the vehicle’s small footprint.

The challenge was welcomed by its

engineers who have pushed the limits

of architecture configuration by locating

the drivetrain behind the driver’s seat

and battery modules in a T-shape along

the centre tunnel and into the front of

the vehicle along with the twin Axial flux,

PMSM e-motors. With lightweighting key

to efficiency, the vehicle’s powertrain

combined with its carbon fibre body

astonishingly weighs in at little more than

1700kg (3747lb), providing an outstanding

2.5kg per HP of performance.

Battery power

At the heart of the vehicle lies one of the

most energy and power-dense battery

packs available, providing a target range

of 500km (310 miles). The 92kWh (83kWh

available), Li-ion NMC, “module-to-pack”

technology is based on series modules with

December 2022 70

integrated pouch cells, which in total weigh

a very lightweight 500kg,

The impressive battery capacity is uniquely

high for a roadster and more akin to that

of a sedan or SUV. Installing this capacity

into a roadster will bridge the gap from

a pure short-trip leisure car to a serious

weekend car. In addition to this, owners

can forget about charging anxiety thanks

to its state-of-the-art 800V high-voltage

architecture enabling ultra-rapid 300kW

DC fast charging at a public charger

or charging domestically via its 22kW

onboard charger. Charging is provided via

a standard Type-2 charging port with ACand

DC charge ports. To keep the battery

performing at such a high level, Wiesmann

engineers have developed a sophisticated

thermal management system for the

battery module. Using a water-glycol mix,

the modules are cooled via a bespoke

designed, flow-simulated and optimized

cooling plate, which transfers the heat

to the base of the module as quickly as


A bespoke Battery Management System

[BMS] has also been developed, which has

given Wiesmann engineers the freedom to

adjust, calibrate and fine-tune the vehicle’s

drivability that is optimised for all driving

states and ambient conditions.

Regenerative braking system

Wiesmann’s mission with Project

Thunderball is to imbue its sports car

with the emotion and immersive feel so

many modern EVs lack. To create that

incomparable driver-orientated Wiesmann

experience, and to implement their own

idea of how an emotional EV drives, a

unique Intelligent Regenerative Braking

System has been specifically developed.

With five setting levels available, the

steering wheel-mounted paddles allow

instant adjustment of the car’s regenerative

braking power, much like the shifting of

gears on an ICE car, so drivers are more


As well as providing driving pleasure, the

driver can change the twin electric motors’

feel to give a powerful engine braking

effect when going downhill or braking

into corners, which recharges the battery

to regain additional range, and allowing

optimum use and minimal waste of energy.

The return of Wiesmann

Roheen Berry, CEO of Wiesmann said,

“The continued development of Project

Thunderball is bringing Wiesmann ever

closer to the goal of producing what

will be the world’s most exciting electric

sports car. Thanks to endless research and

testing, the roadster will blend our bespoke

cutting-edge powertrain technology with

Wiesmann’s trademark German engineering

excellence. We are putting the emotion

back into EVs. Which is why technology has

been a key part of this project, creating a

vehicle that not only has the stunning looks

of a true Wiesmann, but also drives like a

world-class sports car. Iam equally pleased

to say that we have had an enthusiastic

response from customers. Since opening the

reservations list at the end of September,

we have ¾ of the first year of production

slots allocated, proof that they are just as

excited about the new technology in Project

Thunderball as we are.”




The goal is to

build a global


Osman Öğüten, General Manager of MC Filter

MC Filter, which has succeeded in being the 46th of Türkiye’s Top 100 Fastest Growing

Companies in 2021, continues its production with the dream of building a global brand.

Founded in Samsun in 2008 by

two brothers, MC Filter produces

approximately 2000 types of filters in

the Automotive and Industrial group

with its professional staff. Declaring

that they continue their activities

in their new production facilities

in March, Osman Öğüten, General

Manager of MC Filter answered our

questions about production, export

and other their activities.

In line with this goal, with the

understanding of quality, continuous

improvement and after-sales support;

it produces filters for Industrial use

and automotive industry with its

expert staff.

First of all, can you tell us about

your brand?

The primary goal of MC Filter is

to ensure customer satisfaction

and gain the trust of the customer.

December 2022 76

What distinguishes yourself from your


MC Filter aims to offer quality products to

its customers at competitive prices. In this

direction, MC Filter has a rapidly increasing

product variety with its molding workshop,

metal forming workshop and plastic

injection workshop, quality reliability

thanks to its laboratory, professional

production techniques with a staff of 36

engineers and with its innovation skills

through 15-person R&D team.

MC Filter distinguishes itself from its

competitors by delivering quality products

to its customers in the fastest way with

competitive prices.

What about your export activities?

What are your goals?

Our company exports to 35 countries,

especially European countries. We export

approximately 35% of our production. Our

goal is to proudly represent our country all

over the world as a strong global brand.

Could you inform us about your new

production facility?

Our company produces approximately 2000

types of filters with its 2 facilities of 7500

m² and a staff of 340 people in a total open

area of 15.000 m².

We now have a more integrated facility by

using the technological investments we

made with our new facility. We are also

in the approval phase for our R&D Center

application. In order to become an original

equipment manufacturer, we quickly make

up for our shortcomings.

Our approximate production capacity in

the fields we describe as Automotive and

Industrial is 700,000 units/month.

In order to increase customer satisfaction,

product diversity, product and process

quality and production capacity, we serve

with the amateur spirit of the first day,

with the principle of “no excuses, only

solutions” in our new facility.


77 2022



demand flagged

as risk for

Turkish exports

Trade Minister Mehmet Muş warned of

uncertainties for the period ahead as

he said the demand that is expected to

deteriorate further in Europe constituted a

serious risk for Türkiye’s trade.

“Uncertainties are likely to increase even

more in the coming period,” Muş said

during budget talks at Parliament’s Plan

and Budget Commission.

The gloomy outlook was affirmed by

data measuring conditions in key export

markets, showing demand in Türkiye’s key

export markets continued to weaken in


Türkiye’s Manufacturing Export Climate

Index dropped to 47.9, a survey by the

Istanbul Chamber of Industry (ISO) showed,

marking a fall for the third consecutive


The reading had run above the threshold

level of 50 separating growth from

contraction for 19 months before slipping

to 48.8 in August. It was unchanged in


The deterioration in October was the

highest since June 2020 when Türkiye

was plagued by the first wave of the

coronavirus pandemic, ISO said.

Muş cited the growing risk stemming from

weakening demand in the European Union,

Türkiye’s biggest export market.

“This is why we are carrying out the

necessary studies to strengthen our market

diversification by directing our exporters to

alternative markets,” said the minister.

“Uncertainties are likely to increase even

more in the coming period. A difficult

period is ahead facing all countries on a

global level.”

The survey by ISO said output in Germany,

the largest export market for Turkish

manufacturers in Europe, declined for

the fourth month in a row, with the fall

accelerating compared to September.

The United Arab Emirates (UAE) was the

only country of Türkiye’s top 18 export

markets that registered an increase in

economic activity in October, the survey


“The fact that only the UAE remains in

the growth zone among the main export

markets ... clearly shows that the slowdown

in the global economy is widespread,” said

Andrew Harker, economics director at S&P

Global Market Intelligence.

“Current trends suggest that manufacturers

will continue to have difficulty obtaining

new orders from export markets at least for

the rest of 2022,” Harker noted.

Türkiye’s exports remained buoyant and

rose 15.4% from January through October

this year to $209.5 billion, according to

official data, marking an all-time 10-month


Türkiye has set a $250 billion export target

for this year, after reaching a record $225

billion in 2021.

Shipments to the EU jumped 13.5% in the

said period, Muş said, stressing Türkiye

enjoyed a $9.7 billion surplus in trade with

the bloc.

“This successful performance was achieved

despite the negative factors on a global

scale, as well as the serious negative effects

of the decline in (foreign exchange) parity

on our foreign trade,” he added.

Muş said exports would have been $12

billion higher and the trade deficit some

$2.8 lower in the first 10 months had the

euro not declined against the dollar.

Imports, on the other hand, surged

39.5% from January through October to

$300.55 billion, the data showed, driven by

rocketing energy costs and a jump in gold


Energy imports leaped 118.4% year-overyear

to $43.7 billion, while gold purchases

soared 198.4% to $10.1 billion.

Approximately 63% of the increase in

imports stemmed from energy and gold,

Muş said. Muş also said the volume of

e-commerce that gained major pace with

the pandemic more than doubled in the

first half of this year.

“The e-commerce volume that stood at TL

161 billion in the first six months of 2021

increased to TL 348 billion in the same

period of 2022,” the minister said.

Muş informed that TL 13.3 billion out of

the TL 17.12 billion budget estimated for

the ministry in 2023 would be used for

rearrangement and development of trade.

December 2022 78

Firms’ FX assets

at $171 billion

Foreign exchange assests of non-financial

companies declined by $260 million from

July to $171.4 billion in August, data from

the Central Bank have shown.

Liabilities of those companies, on the other

hand, fell by $2.3 billion in the same period

to $260.5 billion.

“Net foreign exchange deficit was $89.1

billion indicating a decrease of $2.02

million compared to July,” the Central

Bank said. On the asset side, deposits held

by domestic banks decreased by $970

million, while export receivables and direct

investments abroad increased by $446

million and $259 million, respectively.

“On the liability side; while domestic

loans decreased by $4.3 billion, external

loans -excluding trade credits- and import

payables increased by $1.1 billion and $993

million, respectively,” the bank said.

Short-term external loans were down by

$733 million, but longterm external loans

increased by $1.3 billion over the same


Foreign trade in Turkish Lira leap 110 percent

Türkiye’s foreign trade volume in the

Turkish Liras increased by 110 percent in

the first 10 months of 2022 from a year ago

to stand at 297 billion liras, the latest data

from the Trade Ministry have shown.

Exports in the local currency amounted to

98 billion liras in January-October, rising

from 51.25 billion liras in the same period

of last year, while imports increased from

90 billion liras to 199 billion liras.

The number of countries that Türkiye sold

its products in Turkish lira was 164, while

the number of local companies engaged

in exports in local currency reached nearly

6,900 in September. The country’s exports

increased by 2.8 percent year-on-year for

an all-time-high October figure of $21.3

billion. Imports grew nearly 32 percent on

an annual basis to $29.3 billion.

Türkiye’s foreign trade gap consequently

widened more than 430 percent month

from a year ago to $8 billion.

Data from the ministry also showed that

exports of high-tech products exhibited

an annual decline of 3.2 percent to $2.2

billion, while exports of medium hightech

production rose by 12 percent to

$9.2 billion. Medium low-tech products

generated $9.5 billion in revenues, leaping

72 percent from October last year.

Nissan, Mitsubishi considering to invest in

Renault’s new electric car brand

Nissan Motor and Mitsubishi Motors may invest in Renault’s

new electric vehicle company Ampere, the French automaker

said Tuesday.

“Renault Group revolutionizes itself focusing resources on the

value chains arising from the transformation of the automotive

and mobility industry: electric vehicles (EV), software, new

mobility services, circular economy, in addition to ICE (internal

combustion engine) & hybrid vehicles,” it said in a statement.

The French automaker said it aims to list the new company

in Europe in the second half of 2023, opening to external

investors to hasten R&D and ecosystem development.

Ampere, which will be based in France and employ about

10,000 people, will also develop software for cars besides

manufacturing and selling fully electric passenger vehicles,

according to Renault.

December 2022 82

Caliskan Dokum started its production in Istanbul in 1983

by producing cast iron fittings. In 2017, it continued the

production on the DİSA Matic vertical molding line in its

foundry located in Tekirdag-Cerkezkoy.

Caliskan Dokum meets the needs of the market with high

volume casting requirements by producing pig, nodular and

tempered cast iron parts in its new modern facility.

Caliskan Dokum is a manufacturer of fittings and operates its

own brand, Caliskan Fittings. Thus, as a company culture, it

has the opportunity of higher quality and more professional

production in small figure parts. Our company, which makes

the machining of its own products, gives the products

that are poured in its own machining track as threaded

according to the customer demand.

Caliskan Dokum molding line is DISA Matic 2013 MK 4 and its

molding size is 480 x 600 mm. Our casting cooling line is 50

meters, which gives us an advantage in competition.

In our foundry, we cast products with a part weight between

50 gr and 30 kg as ductile iron

or temper, with or without

cores. Cores are produced by

hot box, cold box or shell core

processes, depending on the

requirements and complexity of

the parts being manufactured.

Caliskan Dokum casts EN-

GJL-150 (200-250-300), EN-

GJS-400 (450-500-600) and

EN-GJMB-350-10 according

to customer demand and

product structure.

Caliskan Dokum melting facility;

the inductothermy is a 2000 kg Duel-Track, with a double

crucible melting furnace that melts 600 tons per month. Our

company, which attaches importance to the sand process,

aims to make castings of even better quality with different

recipes and different sand processes for each poured

product. Each poured product is tested in the laboratory,

accompanied by spectral analysis, both after casting and

after casting.

Our company, which adopts customer satisfaction as a

principle, provides services to the construction, automotive

and agriculture sectors. As Caliskan Dokum, our primary

mission is to be the first choice of our valued customers with

our products, solutions, after-sales confidence and business

ethics. In our company, where customer satisfaction is the

top priority, our customers are provided with after-sales

support in all matters.

Trade Ministry working to diversify export markets

The Trade Ministry is working to diversify

Türkiye’s export markets as demand from

the European Union is expected to weaken,

Trade Minister Mehmet Muş has said.

Global risks and uncertainties are likely

to heighten for Türkiye too in the period

ahead and demand from the European

Union, which is foreseen to lose

momentum further produces risks for

the country’s exports, Muş said, speaking

at the parliament’s budget and planning


“That’s why we are working on plans,

which are designed to diversity markets

by channeling our exporters to alternative

markets,” the minister added.

Muş noted that 328 actions which targets

18 nations, have already been taken under

the “distant countries” strategy, which

aims to increase Türkiye’s exports to those

countries fourfold.

The minister recalled that Türkiye’s exports

increased by 15.4 percent in the first ten

months of 2022 compared with the same

period of last year to $209.5 billion, with

sales to the Americas recording the highest


Exports to the European Union, our

largest trading partner rose by 13.5

percent,” said Muş, noting that Türkiye’s

trade surplus with the bloc reached $9.7


The trade surplus with the U.K amounted

to $6 billion, he added.

“This success was achieved despite the

adverse impacts from the U.S dollar to euro

exchange rate.”

Muş also stressed the effects of high

energy prices on Türkiye’s import bill.

Some 63 percent of the increase in the

country’s imports stemmed from the

energy and gold imports, he explained.

“Our energy imports grew by 118.4 percent

or by $43.7 billion in the first ten months

of 2022 from a year ago. This increase

was due to the [energy] prices. Our gold

imports rose by 198.4 percent or $10.1

billion over the same period compared

with the ten months of 2021,” Muş


Türkiye’s overall imports amounted to

$300.6 billion in January-October, rising

39.5 percent year-on-year, according to the

latest data from the Trade Ministry.

The country’s foreign trade deficit soared

168.5 percent to $91.1 billion.

In October alone, exports increased by 2.8

percent on an annual basis to $21.3 billion,

while the increase in imports was 31.9

percent to $29.3 billion. The foreign trade

gap widened more than 430 percent yearon-year

to $8 billion.

Meanwhile, the Istanbul Chamber of

Industry’s (ISO) Türkiye manufacturing

export climate index dropped to 47.9 in

October from 48.8 in September.

“Demand conditions in export markets

have now deteriorated in three successive

months, with the latest moderation the

sharpest since the initial wave of the

COVID-19 pandemic in June 2020,” the

chamber said in a statement.

December 2022 86

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!