Automotive Ekports February 2024

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Monthly automotive aftermarket magazine<br />




İstmag Magazin Gazetecilik<br />

İç ve Dış Ticaret Ltd. Şti.<br />

Managing Editor (Responsible)<br />

Mehmet Söztutan<br />

mehmet.soztutan@img.com.tr<br />

Advertising Sales Consultant<br />

Adem Saçın<br />

+90 505 577 36 42<br />

adem.sacin@img.com.tr<br />

Enes Karadayı<br />

enes.karadayi@img.com.tr<br />

International Marketing Coordinator<br />

Ayca Sarioglu<br />

ayca.sarioglu@img.com.tr<br />

Advisory Editor<br />

Yusuf Okçu<br />

yusuf.okcu@img.com.tr<br />

Finance Manager<br />

Cuma Karaman<br />

cuma.karaman@img.com.tr<br />

Digital Assets Manager<br />

Emre Yener<br />

emre.yener@img.com.tr<br />

Technical Manager<br />

Tayfun Aydın<br />

tayfun.aydin@img.com.tr<br />

Graphic & Design Advisor<br />

Sami aktaş<br />

sami.aktas@img.com.tr<br />

Accountant<br />

Yusuf Demirkazık<br />

yusuf.demirkazik@img.com.tr<br />

Subsciption<br />

İsmail Özçelik<br />

ismail.ozcelik@img.com.tr<br />


İstmag Magazin Gazetecilik<br />

İç ve Dış Ticaret Ltd. Şti.<br />

Ihlas Media Center<br />

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

Yenibosna Bahcelievler, Istanbul / TÜRKİYE<br />

Tel: +90 212 454 22 22<br />

www.img.com.tr sales@img.com.tr<br />

KONYA:<br />

Metin Demir<br />

Hazım Uluşahin İş Merkezi C Blok<br />

Kat: 6 No: 603-604-605 KONYA<br />

Tel: (90.332)238 10 71 Fax: (90.332)238 01 74<br />



Merkez Mahallesi 29 Ekim Caddesi İhlas Plaza<br />

No:11 A/41 Yenibosna–Bahçelievler/ İSTANBUL<br />

Tel: 0212 454 30 00<br />

www.ihlasmatbaacilik.com<br />

Mehmet Soztutan, Editor-in-Chief<br />

mehmet.soztutan@img.com.tr<br />

Competitive and innovative…<br />

Thanks to the perfect location and easy transportation opportunities, global<br />

automotive companies benefit from Türkiye and they make huge investments to<br />

expand their production in Türkiye.<br />

The Turkish automotive components industry reaches into many different subsectors<br />

of activity. The producers of parts and components have attained high<br />

standards reflected by large export volumes to the Western countries. There are<br />

numerous producers of automotive components and services in Türkiye.<br />

It should be noted that opening up a country’s market to the international<br />

markets allows a country more efficient production and allocation of resources<br />

as the country can concentrate on the production of goods in which it has a<br />

comparative advantage based on its factor endowments.<br />

Thus, world trade markets allow producers and consumers of the participating<br />

countries to benefit from lower prices, higher-quality products, more diverse<br />

supply of goods, and higher growth as it is the case for the Turkish automotive<br />

and auto spare parts industry.<br />

As part of its commitment to transforming its automotive industry, which has<br />

historically been a key economic driver in integrating the Turkish economy<br />

with the global value chain, and to its vision of making Türkiye an economic<br />

powerhouse, Türkiye has recently introduced its own locally-developed bornelectric<br />

car built upon strength stemming from the country’s long-standing<br />

know-how in the area.<br />

Türkiye offers a supportive environment on the supply chain side. There are<br />

around 1,100 component suppliers supporting the production of OEMs. With<br />

the parts going directly to the production lines of vehicle manufacturers, the<br />

localization rate of OEMs varies between 50 and 70 percent.<br />

Türkiye is home to many global suppliers. There are more than 250 global<br />

suppliers that use Türkiye as a production base, with 30 of them ranking among<br />

the 50 largest global suppliers. Many companies operating in the Turkish market<br />

possesses international certifications, enhancing their global market position.<br />

Our publications remain at the service of those business people seeking to<br />

increase their share in the increasingly competitive automotive markets.<br />

We wish lucrative trade for all business people.<br />

automotiveexport<br />

EDİToR<br />


EVs boom as Turkish car sales<br />

hit record 1.2 million in 2023<br />

<strong>February</strong> <strong>2024</strong><br />

The passenger car and light commercial vehicle<br />

market in Türkiye achieved a historic milestone as<br />

sales surpassed 1.2 million units in 2023, according to<br />

industry data published.<br />

The surge was propelled by easing financing<br />

conditions in the first half of the year and pent-up<br />

demand. Yet, borrowing costs soared as the central<br />

bank delivered aggressive monetary tightening after<br />

the May elections.<br />

Passenger car and light commercial vehicle sales in<br />

December exceeded expectations, rising by 37.7% to<br />

158,653 units, according to the <strong>Automotive</strong> Distributors<br />

and Mobility Association (ODMD).<br />

This took the year-end total to a record 1.23 million<br />

units, marking a 57.4% year-over-year increase. The<br />

earlier annual all-time high stood at 984,000 units in<br />

2016. Throughout the year, sales registered records<br />

every month except for November.<br />

The rise in sales came despite a sharp rise in the costs<br />

of loans for vehicles after seven successive months of<br />

interest rate hikes by the central bank aimed at cooling<br />

demand and stemming inflation that neared 65%.<br />

Since June, the bank hiked its benchmark policy rate<br />

by 3,400 basis points to 42.5%, after the new economy<br />

administration orchestrated a shift from a yearslong<br />

policy of low borrowing costs after the May vote.<br />

According to ODMD data, passenger car sales<br />

increased by 63.2% throughout the year, reaching<br />

967,341 units, while the light commercial vehicle<br />

market saw a 39.2% increase, reaching 265,924 units.<br />

In a breakthrough, electric vehicle (EV) sales<br />

constituted 6.8% of the total sales in 2023, according<br />

to the ODMD data.<br />

The record share was driven by the first homegrown<br />

EV brand Togg, and the entry of new players like<br />

Tesla. The course of the year saw electric cars’ share<br />

in monthly sales surpass 10% in August, compared<br />

to just 2% in April. EV sales in December surged by<br />

643% compared to the previous year, totaling 11,289<br />

units, the data showed. In December alone, they<br />

comprised 9% of total car sales.<br />

Sales throughout the year reached a record of<br />

65,562 units. Togg topped the list and delivered<br />

19,583 of these, while Tesla, entering the market in<br />

April, achieved approximately 12,150 sales. Chinese<br />

automaker BYD, which started operations in Türkiye in<br />

November, delivered 839 units.<br />

Togg is currently producing a fully electric C-segment<br />

SUV. The brand launched the production of its T10X in<br />

October 2022 before it started deliveries in April 2023.<br />


Türkiye to close<br />

2023 with records<br />

in civil aviation<br />

<strong>February</strong> <strong>2024</strong><br />

Türkiye, implementing a “regional aviation policy” and<br />

“liberalization in civil aviation” since 2003, will close<br />

2023 with records in the field, the country’s Transport<br />

and Infrastructure Minister Abdulkadir Uraloğlu said.<br />

Uraloğlu said Türkiye follows developments in the<br />

field of international civil aviation and necessary<br />

arrangements for the up-to-date implementation of<br />

the rules and standards accepted by international<br />

organizations.<br />

“As a result of the efforts made in the airline sector,<br />

as of the end of November 2023, the total number of<br />

air transportation enterprises reached<br />

231, including 13 airline enterprises, 44<br />

air taxi enterprises, 97 general aviation<br />

enterprises, 67 balloon enterprises<br />

and 10 very light aircraft enterprises,”<br />

Uraloğlu told Anadolu Agency (AA).<br />

Nearly 200 million passengers,<br />

including transit passengers, traveled<br />

through Türkiye’s airports between<br />

January and November this year,<br />

according to the country’s air travel<br />

authority. The 11-month figure rose<br />

18% from a year ago, exceeding the<br />

pre-pandemic level of 195.5 million,<br />

according to State Airports Authority<br />

General Directorate (DHMI) data.<br />

Uraloğlu said the number of planes,<br />

which was 162 in 2003, increased by<br />

309% to 663 as of the end of November, and the seating<br />

capacity increased by 367% from almost 27,600 to<br />

nearly 128,900.Türkiye’s airspace is covered with airway<br />

networks, Uraloğlu said, adding: “While the number<br />

of countries with which we have air transportation<br />

agreements was 81 in 2003, it increased to 173.<br />

“As a result of agreements and negotiations, 283 new<br />

destinations were added to the number of international<br />

destinations, which was 60 in 2003.<br />

Our flight network has reached 343 destinations in<br />

130 countries,” he added.<br />


B.I.G. Yarns, a new European producer<br />

of PET BCF yarns for automotive carpet<br />

<strong>February</strong> <strong>2024</strong><br />

• First industrial runs complete for automotive carpet<br />

manufacturing<br />

• New yarns put innovation and sustainability at<br />

forefront of production<br />

• B.I.G. Yarns now a one-stop shop for nylon (PA6),<br />

polypropylene (PP) and polyester (PET) BFC Yarns<br />

To expand its support for high-end and luxurious<br />

automotive interiors, B.I.G. Yarns has completed its<br />

first industrial production runs of virgin polyester BCF<br />

yarns for automotive carpet to complement its line of<br />

polyamide PA6 superior yarns.<br />

There is a growing market in PET for automotive<br />

interior applications, with polyester allowing<br />

automotive OEMs and Tier 1 to develop products<br />

that, from the outset, consider eco-design by building<br />

MONO-polymer carpets and flooring that are 100%<br />

recyclable at End of Life (EOL ). These materials are<br />

helping to ensure improved and more sustainable EOL<br />

recycling of electric vehicles that are driving the future<br />

of the car industry.<br />

The new PET BCF Yarns offer high-performance<br />

for automotive carpets, including abrasion and<br />

stain resistance, and durability, passing all stringent<br />

automotive tests including the Taber test for abrasion<br />

performance, compressibility and recovery ability test,<br />

light fastness in automotive (DIN EN ISO 105-B06) and<br />

VOC (fogging) according the VDA 278 test on VOC and<br />

FOG emission. The yarns can be color solution dyed,<br />

have a dTex between 1300 – 1500, 81 filaments and<br />

are ideally for mats with a composition of 400 to 800<br />

gram per m², while the yarns for molded carpets have<br />

a dTex of 1200, 144 filaments for 380 gram per m².<br />

“As the industry continues its transition towards<br />

circularity, making the right material choice is crucial<br />

from the outset to ensure the best possible eco-design<br />

and recyclability. Our newcomer, PET BCF yarns,<br />

brings virgin material to automotive carpets, creating<br />

a new systemic approach towards MONO-polymerbased<br />

automotive applications,” said Glenn Hyzak,<br />

Global Sales Director Yarns.<br />

With the addition of PET BCF yarns, B.I.G. Yarns is<br />

now a one-stop-shop for 3 types of Solution Dyed<br />

BCF carpet yarns for the automotive industry: nylon<br />

(PA6), polypropylene (PP) and polyester (PET), and the<br />

Eqo-range of PA6 yarns – the sustainability focused<br />

EqoBalance, EqoCycle and EqoYarn. This strategically<br />

positions the company to help carpet manufacturers<br />

meet their sustainability targets.<br />

The automotive carpet market is expected to grow<br />

strongly in the coming decade with the increased<br />

demand for vehicle customization and personalization<br />

driven by owners looking to upgrade and enhance<br />

interiors, including the flooring area.<br />

A growing awareness around car hygiene is also<br />

boosting the market as consumers become more<br />

conscious of maintaining cleanliness in their vehicles,<br />

including the floors. <strong>Automotive</strong> carpets provide an<br />

effective solution by trapping dirt and preventing it<br />

from spreading to other areas.<br />

B.I.G. Yarns supports manufacturers as they invest<br />

in research and development to introduce more<br />

innovative and improved products to cater to these<br />

evolving consumer needs.<br />

“From sustainability to enhanced functionalities<br />

and color, we work closely with our customers,<br />

supporting them in design for vehicle customization<br />

and personalization, and in building new carpet<br />

designs that have never be seen before. Be inspired<br />

by our SustainableYarns and our monthly Catch<br />

The Color and let us help you open up exciting new<br />

opportunities with our continuous focus on innovation<br />

and sustainability,” concluded Mélanie Monceaux, R&D<br />

Manager B.I.G. Yarns.<br />

B.I.G. Yarns is proactive in developing new products<br />

that better serve customers’ needs in a sustainable<br />

way. Its solutions are at the forefront of industry<br />

product design, and it is fully committed to achieving<br />

an improved climate impact in the full supply chain<br />

within the automotive interiors industry by focusing on<br />

what matters most.<br />


Number of EV charging points<br />

in Türkiye exceeds 12,000 mark<br />

The number of electric vehicle (EV) charging points<br />

across Türkiye has surpassed 12,000 as of Dec. 25,<br />

according to the data compiled by Anadolu Agency.<br />

The number of EV points reached 12,067 in 5,614<br />

stations according to the data from Türkiye’s Energy<br />

Market Regulatory Authority (EMRA).<br />

The country is now equipped with 8,492 slow charging<br />

(AC) and 3,575 fast charging (DC) points located<br />

throughout the country’s 81 provinces.<br />

Türkiye is also following the global trend of moving<br />

away from vehicles run on gasoline and diesel, which<br />

are considered more polluting to the environment and<br />

is, as a result, reaping the benefits of lower energy<br />

costs. EVs are set to play an important role in reducing<br />

the countries’ dependence on imported fossil energy<br />

sources in the long term.<br />

Eco-friendly EVs are also touted as fuel-efficient with<br />

low maintenance costs, comfortable and quiet driving<br />

with state-of-the-art technological equipment and are<br />

moving into the arena of autonomous driving.<br />

With a rise in the number of EV charging stations<br />

throughout the country, the demand for these vehicles<br />

is similarly expected to expand.<br />

While the number of EVs and charging stations<br />

is increasing in Türkiye, the EMRA has passed a<br />

regulation to allow these vehicles to be charged in a<br />

more environmentally friendly manner.<br />

Under this regulation, license holders of charging<br />

network operators may designate all or some of the<br />

charging stations in their network as “green charging<br />

stations” if renewables have generated the electricity<br />

used in the charging stations.<br />

According to EMRA data, the majority of electric<br />

charging stations in Türkiye are located in Istanbul,<br />

totaling 1,308. The capital, Ankara, follows with 542<br />

and Antalya with 422. These three major cities also<br />

have the highest number of sockets, with 3,316 in<br />

Istanbul, 1,249 in Ankara and 833 in Antalya.<br />

<strong>February</strong> <strong>2024</strong><br />


2023 boom places Türkiye among<br />

top European electric car markets<br />

<strong>February</strong> <strong>2024</strong><br />

The upward trend in drivers seeking to go green helped<br />

Türkiye outpace many European countries in electric<br />

vehicle (EV) sales in 2023, in a momentum propelled by<br />

the nation’s first homegrown battery-powered car and<br />

the entry of several new brands.<br />

Sales of fully electric cars in Türkiye reached a record<br />

65,562 units throughout last year – an 844.4% yearover-year<br />

increase – according to the <strong>Automotive</strong><br />

Distributors and Mobility Association (ODMD). EVs<br />

accounted for 6.8% of the total sales, up from just<br />

1.2% in 2022.<br />

The figure means Türkiye left behind many EU member<br />

states such as Italy, Spain, Austria, Denmark and<br />

Finland, according to a report by Anadolu Agency.<br />

The rise has not been limited to fully electric cars,<br />

as their gasoline-electric hybrid rival also gained<br />

significant momentum and saw sales increase by<br />

62.8% to 104,804 units last year.<br />

The overall passenger car and light commercial vehicle<br />

market in Türkiye achieved a historic milestone as<br />

sales surpassed 1.2 million units in 2023, marking a<br />

57.4% year-over-year increase. The earlier annual alltime<br />

high stood at 984,000 units in 2016.<br />

According to ODMD data, passenger car sales<br />

increased by 63.2% throughout the year, reaching<br />

967,341 units, while the light commercial vehicle<br />

market saw a 39.2% increase, reaching 265,924 units.<br />

Sales of gasoline-fueled vehicles rose 58.1% to<br />

646,385 units. The combined sales of fully electric and<br />

hybrid cars reached 170,366, surpassing diesel car<br />

sales which totaled 133,374 units.<br />

The market share of gasoline cars dropped to 66.8%,<br />

from 69% in 2022. Diesel cars’ share declined from<br />

17.4% to 13.8%, while that of hybrid vehicles fell from<br />

10.9% to 10.8%.<br />

The record EV share was driven by the first homegrown<br />

brand Togg and the entry of new players like Tesla. The<br />

course of the year saw electric cars’ share in monthly<br />

sales surpass 10% in August, compared to just 2% in<br />

April.<br />

EV sales in December surged by 643% compared<br />

to the previous year, totaling 11,289 units, the data<br />


showed. In December alone, they comprised 9%<br />

of total car sales.<br />

Togg topped the list and delivered 19,583 of<br />

these, while Tesla, entering the market in April,<br />

achieved approximately 12,150 sales. Chinese<br />

automaker BYD, which started operations in<br />

Türkiye in November, delivered 839 units. Togg is<br />

currently producing a fully electric C-segment SUV.<br />

The brand launched the production of its T10X in<br />

October 2022 before it started deliveries in April a<br />

year later.<br />

It is due to unveil its sedan model at CES <strong>2024</strong>, the<br />

world’s largest technology trade show.<br />

According to ODMD data, the number of brands<br />

selling at least one electric model in Türkiye<br />

increased to 27 as of October 2023, compared<br />

to less than 10 in 2021. The upward trend of EVs<br />

in the Turkish automotive market remains notably<br />

higher compared to European counterparts.<br />

Fully electric car sales in the EU increased by<br />

48.2% year-over-year from January through<br />

November 2023, reaching 1.37 million units,<br />

according to the data released by the European<br />

Automobile Manufacturers’ Association (ACEA).<br />

Italy saw 59,462 sales, Spain 45,716, Denmark<br />

52,886, and Finland 27,435. Germany led the<br />

27-member EU with 469,565 units, followed by<br />

France with 260,864 and the Netherlands with<br />

103,330 units.<br />

Sweden ranked fourth with 100,698 sales, and<br />

Belgium came in fifth with 86,823.<br />

The 11-month sales in Türkiye totaled 54,273 units,<br />

making it rank seventh in Europe just after Italy.<br />

<strong>February</strong> <strong>2024</strong><br />


Minister urges Chinese carmaker<br />

Chery to invest in Türkiye<br />

Industry and Technology Minister Fatih Kacır has called<br />

on Chinese carmaker Chery to invest in Türkiye.<br />

He visited the production facilities of Chery, China’s<br />

largest automotive exporter since 2012, Kacır wrote on<br />

X, formerly Twitter, on Dec. 21.<br />

“I invited the brand, which produced 250,000 vehicles,<br />

to invest in our country. We will continue to work to<br />

make Türkiye an electric vehicle production base.”<br />

During his visit to the Anhui province, one of the<br />

production centers of the automotive industry in China,<br />

he discussed with local authorities the opportunities<br />

that Türkiye has to offer to investors, Kacır said.<br />

Türkiye’s electric vehicle (EV) market is growing fast,<br />

and Chinese companies are increasing their share in<br />

car sales.<br />

The number of passenger cars imported from China<br />

exceeded 51,000 in the January-November period,<br />

capturing a 6 percent share in the Turkish market,<br />

according to the <strong>Automotive</strong> Distributors and Mobility<br />

Association (ODMD).<br />

Most of those vehicles (35,000) are gasoline-powered<br />

vehicles of the Chinese brand Chery, whereas 15,000<br />

EVs were imported from China.<br />

Kacır also met with Chinese counterparts, Science<br />

and Technology Minister Yin Hejun and Industry and<br />

Information Technologies Minister Jin Zhuanglong,<br />

in Beijing, the Turkish Industry Ministry said in a<br />

statement.<br />

They discussed bilateral cooperation, especially<br />

electric vehicles and battery investments, according to<br />

the statement.<br />

<strong>February</strong> <strong>2024</strong><br />


Tesla halts production in Germany<br />

due to Red Sea-tied disruption<br />

Electric car maker Tesla announced night that it would<br />

be temporarily halting most production at its German<br />

factory, citing supply chain disruptions due to the<br />

attacks in the Red Sea, a vital global shipping corridor.<br />

The company said that its factory near Berlin, which<br />

makes Model Y vehicles and batteries, will pause from<br />

Jan. 29 to Feb. 11.<br />

“The considerably longer transportation times are<br />

producing a gap in supply chains,” Reuters cited Tesla<br />

as saying in a statement.<br />

“The armed conflicts in the Red Sea and the associated<br />

shifts in transport routes between Europe and Asia via<br />

the Cape of Good Hope are also having an impact on<br />

production in Gruenheide,” Tesla said in a statement.<br />

Analysts expect that other automakers could suffer<br />

fallout from the Red Sea conflict, as shipping companies<br />

were also earlier reporting that they’re being forced to<br />

reroute vessels carrying goods and components on the<br />

longer route around the southern tip of Africa. Analysts<br />

say the detour adds 10 days or more to the journey.<br />

The U.S. led airstrikes against Yemen’s Houthi rebels<br />

in response to their attacks on Red Sea shipping. Tesla<br />

said normal operations are expected to resume on Feb.<br />

12. The factory in Gruenheide, southeast of Berlin, is<br />

Tesla’s first in Europe. It opened in 2022 and employs<br />

some 11,000 workers.<br />

<strong>February</strong> <strong>2024</strong><br />


Global companies prefer<br />

Türkiye for production, exports<br />

<strong>February</strong> <strong>2024</strong><br />

Türkiye offers many opportunities in different sectors<br />

where it has a competitive advantage, Bolat said<br />

in a speech he delivered at an event organized by<br />

the Independent Industrialists and Businessmen’s<br />

Association (MÜSİAD) in Istanbul.<br />

“We are negotiating new generation, comprehensive<br />

trade agreements which include areas such as goods<br />

trade as well as services and investments, in order<br />

to increase exports, strengthen competitiveness in<br />

industry and attract foreign capital to the country,” the<br />

minister said.<br />

Bolat noted that Türkiye is among the top 10 countries<br />

with the most free trade agreements in the world.<br />

Türkiye has become a regional power with records<br />

broken in exports and industry as well as large<br />

investments in the fields of health and education, he<br />

added, also stressing the investment the country made<br />

in air transport infrastructure.<br />

Most of the targets set out in the medium-term<br />

program were already met in 2023, according to the<br />

minister.<br />

Export revenues reached an all-time-high of $255.8<br />

billion last year, against the initial target of $255 billion<br />

for that year, Bolat said.<br />

“We aim for $267 billion export revenues and $110<br />

billion in services exports in <strong>2024</strong>.”<br />

Türkiye’s strategic location offers easy, same-day<br />

access to markets in 16 different time zones, from<br />

Tokyo to New York, which lures foreign companies to<br />

prefer the country as a production and export hub, the<br />

minister noted.<br />

Almost all of the recent regional crises, geopolitical<br />

tensions and hot conflicts took place in the immediate<br />

vicinity of Türkiye, and the negative outlook deepened<br />

even further with the earthquakes in <strong>February</strong> last year,<br />

Bolat said.<br />

“No matter how unfavorable the situation is, Türkiye’s<br />

sole aim is to protect and further develop its economic<br />

and commercial gains,” he stated, adding that the<br />

growth figures reveal the success in this regard.<br />

In 1980, Türkiye’s national income was $67.5 billion<br />

with only 1,000 exporting companies and $2.9 billion in<br />

export revenues, the minister recalled.<br />

“As of the first nine months of 2023, our national<br />

income exceeded $1 trillion and hopefully we closed<br />

last year with $1.1 trillion of GDP. We managed to<br />

become a country with a per capita income of $12,521<br />

with 140,000 exporting companies in 2023,” he said.<br />


Toyota’s Daihatsu to compensate<br />

suppliers over production halt<br />

Carmaker Daihatsu, a subsidiary of Japanese<br />

automotive giant Toyota, will compensate 423<br />

domestic suppliers with which it has direct business<br />

relations as its plants in Japan remain idle following a<br />

safety scandal, a spokesperson said.<br />

The small car specialist has halted production in Japan<br />

until the end of next month, the spokesperson said.<br />

The company will consider compensating suppliers<br />

based on past business volumes and is working to<br />

assess the impact of the stoppage on its sprawling<br />

supplier network, he added. Daihatsu said it halted<br />

shipments of all its vehicles after a safety investigation<br />

found issues involving 64 models, including almost two<br />

dozen sold under Toyota’s brand. The company will<br />

work with its main suppliers to address the fallout from<br />

the scandal and may also help smaller subcontractors<br />

that do not receive compensation to access support<br />

funds from the Industry Ministry, the spokesperson<br />

added. Daihatsu’s overseas operations focus heavily<br />

on Southeast Asia.<br />

It has resumed production of Perodua brand cars at<br />

two joint venture plants it operates with Malaysian<br />

automaker Perodua after getting regulatory<br />

clearance, the spokesperson said. The company,<br />

which is fully owned by Toyota, said it had resumed<br />

shipments from its subsidiary in Indonesia, PT Astra<br />

Daihatsu Motor.<br />

<strong>February</strong> <strong>2024</strong><br />


Doğu Otomotiv offers competitive spare<br />

parts for passenger and commercial vehicles<br />

Fırat Dilgin the company official of Doğu Otomotiv<br />

Doğu Otomotiv, a reliable supplier in the auto spare<br />

parts industry, not only sells wholesale and retail sales<br />

of reputable foreign brands, but also develops its own<br />

brand “DGU Parts” group. We asked the success story<br />

of the company to Fırat Dilgin, the company official of<br />

Doğu Otomotiv:<br />

Could you indicate the main milestones that your<br />

company has achieved since its establishment?<br />

Founded in 2017, our company “Doğu <strong>Automotive</strong><br />

Spare Parts” has managed to make a sound both in<br />

the country and abroad in a very short time with its<br />

customer-oriented approach since its establishment.<br />

A significant part of our product portfolio is FORD<br />

original spare parts and the industry’s recognized<br />

original AFTERMARKET brands such as FOMOCO,<br />


FTE, VISTEON, DAYCO etc. We carry out wholesale<br />

and retail sales of brands.<br />

In addition, with our own brand “DGU Parts”, we are<br />

expanding our product range especially in the FORD<br />

passenger and commercial segment.<br />

In addition, especially in line with the special demands<br />

of our foreign customers, we provide spare parts<br />

for all passenger and commercial vehicle brands at<br />

affordable prices. As of 2017, we have started to serve<br />

all over Turkiye with wholesale buying and selling<br />

services and strengthened our business partnership<br />

with important companies of the market. We provide<br />

direct service to our customers all over Turkiye with<br />

online B2B system and sales representatives.<br />

<strong>February</strong> <strong>2024</strong><br />

Wholesale Operation Store<br />


As of 2018, we have opened to foreign markets by<br />

realizing our first export. Our current export markets<br />

are Russia, Georgia, England and North African<br />

countries.<br />

As of the beginning of 2020, we started the opening<br />

of our Retail Stores and we continue our growth with<br />

the understanding of reasonable price, fast and quality<br />

service to our customers with both Wholesale and<br />

Retail stores in Ford spare parts.<br />

As of 2021, we started to realize the domestic<br />

and international production and sales of our own<br />

products with our “DGU Parts” brand, which we<br />

launched.<br />

We will continue to expand our business network<br />

with our Istanbul-based company, 3 different retail<br />

branches and 1 wholesale operation warehouse.<br />

Thanks to our experienced staff in the sector at the<br />

points of pre-sales and after-sales service, service<br />

transfer and customer satisfaction, we continue our<br />

long-term business partnerships with our customers<br />

who have started cooperation with us.<br />

What is in your product portfolio?<br />

First of all, we carry out wholesale and retail sales<br />

of FORD Original Spare Parts and the industry’s<br />

recognized original aftermarket brands such as<br />


FAG, DELPHI, FTE, VISTEON, DAYCO etc., which<br />

constitute a significant part of our product portfolio.<br />

In addition, with our own brand “DGU Parts”, we are<br />

expanding our product range especially in the FORD<br />

passenger car and commercial segment.<br />

In addition, we provide spare parts for all passenger<br />

and commercial vehicle brands with reasonable<br />

prices, especially in line with the special demands of<br />

our foreign customers.<br />

What kind of remarkable feedback do you receive<br />

from your customers who use your products?<br />

The feedback from our customers is always positive,<br />

especially for our own brand and all other valuable<br />

commercial brands that we sell. Since the quality of<br />

the products is globally approved, there is no room<br />

for question marks. Rather, we receive very positive<br />

feedback from our customers for our reasonable price<br />

and quality service understanding.<br />

Are there any aspects that you are ahead of your<br />

competitors, and if so, what are they? Are there<br />

any issues such as quality, price, innovation,<br />

environmental awareness, after-sales service, etc.<br />

that you are ahead of?<br />

Since our competitors also sell the same products, our<br />

difference is that we realize our products in a way that<br />

stands out with reasonable prices and short shipment<br />

times.Thanks to our experienced staff in the sector in<br />

pre-sales and after-sales service and all service transfer<br />

issues, we maintain a long-term cooperation with our<br />

customers who have started cooperation with us.<br />

Could you tell us about your exports, current<br />

export markets and target markets?<br />

Our current export markets are Russia, Uzbekistan,<br />

Georgia, Georgia, England and North African<br />

countries. In line with our target markets, our<br />

negotiations continue for the European and Central<br />

Asian markets.<br />

How do you evaluate participating in fairs abroad?<br />

What are the fairs you have attended or plan to<br />

attend?<br />

We attach great importance to fair participation both<br />

abroad and domestically. We see it as an important<br />

platform for coming together and meeting with<br />

valuable business partners all over the world. We try to<br />

participate in all fairs in the Auto Spare Parts sector.<br />

Do you have anything to add about your company<br />

or your sector?<br />

As we mentioned above, with our understanding of<br />

quality service, it will continue to be our first priority<br />

to strengthen and grow our cooperation with our<br />

customers for many years and to strengthen our place<br />

in the market.<br />

<strong>February</strong> <strong>2024</strong><br />


China’s smartphone maker<br />

Xiaomi unveils first electric vehicle<br />

<strong>February</strong> <strong>2024</strong><br />

Chinese smartphone maker Xiaomi unveiled its<br />

first electric vehicle (EV) and promptly announced<br />

its ambitions to become one of the world’s top five<br />

automakers.<br />

The sedan model dubbed the SU7 – with the SU<br />

standing short for Speed Ultra – is a highly anticipated<br />

model that Chief Executive Lei Jun touted as having<br />

“super electric motor” technology capable of delivering<br />

acceleration speeds faster than Tesla cars and<br />

Porsche’s EVs.<br />

But the car – likely to go on sale in several months – is<br />

making its debut at the time when China’s auto market,<br />

the world’s largest, is wrestling with a capacity glut and<br />

slowing demand that have stoked a bruising price war.<br />

That didn’t stop Xiaomi Chief Executive Lei Jun from<br />

outlining big ambitions.<br />

“By working hard over the next 15 to 20 years, we will<br />

become one of the world’s top 5 automakers, striving<br />

to lift China’s overall automobile industry,” he said at<br />

the unveiling.<br />

Those plans include building “a dream car comparable<br />

to Porsche and Tesla,” he added.<br />

The SU7 is also expected to appeal to customers due<br />

to its shared operating system with Xiaomi’s popular<br />

phones and other electronic devices. Its drivers will<br />

have seamless access to the company’s existing<br />

portfolio of mobile apps.<br />

“Xiaomi is a well-established consumer electronics<br />

brand with hundreds of millions of ‘Mi Fans,’ or<br />

members of its smart device ecosystem,” said<br />

Bill Russo, CEO of Shanghai-based advisory firm<br />

Automobility.<br />

“As such, they have a significant opportunity to break<br />

through as the automobile becomes a smart device.”<br />

The SU7 will come in two versions – one with a driving<br />

range of up to 668 kilometers (415 miles) on a single<br />

charge and another with a range of up to 800 km. By<br />

comparison, Tesla’s Model S has a range of up to 650<br />

kilometers.<br />

Pricing has yet to be announced. Lei said the cost<br />

would “indeed be a bit high, but one that everyone will<br />

think is justified.”<br />

Amid one of the coldest Decembers on record for<br />

China, the SU7 was also being positioned to appeal<br />


to consumers worried about winter. Lei said it had<br />

fast-charging capabilities in low temperatures and is<br />

equipped with advanced tech allowing it to recognize<br />

obstacles under challenging conditions such as falling<br />

snow.<br />

The autonomous driving capabilities of Xiaomi cars<br />

would be at the forefront of the industry, he also said.<br />

Lei’s ambitions failed to boost Xiaomi’s share price,<br />

however, with the company’s Hong Kong-listed stock<br />

giving up earlier gains to finish 0.3% lower.<br />

China’s fifth-largest smartphone maker has been<br />

seeking to diversify beyond its core business to EVs<br />

amid stagnating demand for smartphones – a plan it<br />

first flagged in 2021. Other Chinese tech companies<br />

that have partnered with automakers to develop EVs<br />

include telecoms giant Huawei and search engine firm<br />

Baidu.<br />

Xiaomi has pledged to invest $10 billion in autos over<br />

a decade and is one of the few new players in China’s<br />

EV market to gain approval from authorities who have<br />

been reluctant to add to the supply glut.<br />

Its cars will be produced by a unit of state-owned<br />

automaker BAIC Group in a Beijing factory with an<br />

annual capacity of 200,000 vehicles. In an extremely<br />

crowded Chinese EV market, its biggest competition<br />

will likely come from BYD, which commands a onethird<br />

share, while Tesla has 9%, according to thirdquarter<br />

figures from Zheshang Securities.<br />

<strong>February</strong> <strong>2024</strong><br />


Türkiye exports<br />

defense industry<br />

products to<br />

185 countries<br />

<strong>February</strong> <strong>2024</strong><br />

Türkiye has increased its annual exports of defense<br />

industry products by 27 percent in the year 2023, the<br />

head of the defense industry presidency has said,<br />

informing that around 230 different products were sold<br />

to 185 countries in the world.<br />

Turkish Defense Industries President Haluk Görgün<br />

evaluated the performance of his agency in 2023<br />

and informed the targets set for <strong>2024</strong> at a meeting<br />

with Ankara bureau chiefs of the media outlets in the<br />

Turkish capital on January 12.<br />

“I can say that we have fully achieved the targets set<br />

for 2023 in every field,” Görgün stressed, informing that<br />

one of the efficient ways to measure the success of his<br />

agency is the exports of defense industry products.<br />

“In the year 2023, we have broken the record in terms<br />

of the exports of the defense industry products. Our<br />

defense industry exports increased by 27 percent<br />

compared to 2022 and reached a total of $5.5 billion,”<br />

Görgün stated. He also informed that new contracts<br />

with a total value exceeding $10 billion were also<br />

signed in 2023.<br />

“This is the reflection of the confidence towards our<br />

defense industry,” he underlined, describing the<br />

growing Turkish defense industry as the rising star of<br />

Türkiye.<br />

Görgün recalled that the Turkish defense industry<br />

products were sold to 170 countries in 2022 and that<br />

this number increased to 185 countries in the past<br />

year. “We are exporting around 230 different defense<br />

industry products,” he said.<br />

Türkiye has become one of the top exporters of drones<br />

and armed drones in recent years as these products<br />

have proven their quality in both Türkiye and in the<br />

countries they are being used.<br />

“For us, the fact that our products are being sold<br />

and efficiently used by our friends and allies is good<br />

evidence of the success of our industry,” he stated.<br />

Türkiye is among five countries that can produce<br />

advanced armed drones and among 10 countries<br />

that can produce submarines and other sea vessels,<br />

Görgün recalled. “We are of the opinion that<br />

Türkiye’s deterrence in the face of the changes in the<br />

geopolitical balances can only be possible through a<br />

strong and national defense industry capacity.”<br />

There will be many good news stories regarding the<br />

defense industry achievements in the year <strong>2024</strong>,<br />

Görgün vowed, informing that Türkiye’s first indigenous<br />

fifth-generation fighter jet, KAAN, will perform its first<br />

flight.<br />

“KAAN will soon take off. But, at the same time, we<br />

have already started our works for the sixth generation<br />

warplanes,” Görgün said, adding that KAAN will use<br />

the engines to be fully developed and produced by<br />

national resources.<br />

On a question, Görgün announced that Türkiye has<br />

suspended its demand to supply drone cameras<br />

from Canada, which has been imposing arms sale<br />

restrictions to the former. “We have suspended this<br />

process. We are producing much better ones, and very<br />

soon the serial production of the drone cameras will<br />

begin this month,” the president said.<br />

Türkiye has already been producing an older fashion<br />

of these cameras and was exporting them to 15<br />

countries, he recalled, stressing that the new ones will<br />

be one of the best being used in the world.<br />


China’s BYD replaces Tesla as<br />

world’s top electric vehicle maker<br />

China’s electric vehicle producer BYD unseated Elon<br />

Musk’s Tesla, according to latest statistics released.<br />

The U.S.-based car manufacturer run by billionaire<br />

Musk delivered 484,507 vehicles in the fourth quarter<br />

of 2023, said a company filing – up more than 11%<br />

from the previous quarter.<br />

But this increase was not enough to maintain Tesla’s<br />

crown as the world’s top battery electric vehicle<br />

producer and seller, as Chinese rival BYD reported<br />

sales of 526,409 for the same period.<br />

These figures underscore the challenges Tesla will<br />

likely face this year, from competitors keen to capitalize<br />

on the growing demand for EVs. Tesla’s stock slipped<br />

after the news was announced, before regaining<br />

ground. As well as besting Tesla in pure electric vehicle<br />

sales, BYD sold more than 400,000 plug-in hybrid<br />

electric vehicles in the fourth quarter. In total, it sold<br />

more than three million passenger vehicles last year.<br />

However, Tesla was still the top seller of EVs on an<br />

annual basis, delivering more than 1.8 million vehicles<br />

to customers in the year to December, well above<br />

BYD’s sales figure of just under 1.6 million.<br />

<strong>February</strong> <strong>2024</strong><br />


‘Emissions trading system best<br />

tool for carbon pricing in Türkiye’<br />

<strong>February</strong> <strong>2024</strong><br />

Carbon pricing is spreading across the globe, whether<br />

in rich or poor countries, as one of the most significant<br />

tools to combat climate change as the world is still<br />

far from meeting the 2015 Paris Agreement’s goal of<br />

limiting warming to 1.5 degrees Celsius and emissions<br />

are continuing to rise.<br />

With international debates on the advantages and<br />

disadvantages of carbon pricing gaining heat, Türkiye’s<br />

green transformation and policies to fight global<br />

warming are also taking shape.<br />

An Emissions Trading System (ETS) is the wellsuited<br />

tool for carbon pricing for Türkiye, according<br />

to technical studies, Professor Halil Hasar, Director<br />

of Climate Change Presidency of Türkiye, told in an<br />

exclusive interview.<br />

“Technical studies conducted in the scope of the<br />

Partnership for Market Readiness (PMR) Project<br />

supported by the World Bank show us the emissions<br />

trading system is the most cost-effective carbon<br />

pricing option for Türkiye. Furthermore, an advisory<br />

decision was taken for the development of a National<br />

Emissions Trading System in the Climate Council,<br />

organized in 2022” he elaborated.<br />

Both the 12th Development Plan which reflects the<br />

country’s 2053 net-zero goal, as well as the Medium-<br />

Term Program mirror the strategic dimension of an<br />

ETS, Prof. Hasar said, reminding that in Türkiye’s<br />

Nationally Determined Contributions submitted within<br />

the scope of the Paris Agreement, ETS is among the<br />

main implementation tools for reducing greenhouse<br />

gas emissions in the industry and electricity production<br />

sectors.<br />

Carbon pricing places a fee on carbon emissions and<br />

thus encourages lower pollution. Experts agree that<br />

initially, carbon pricing can affect the economy and<br />

raise energy prices, however, in the long-term, the<br />

benefits outweigh the disadvantages while the revenue<br />

gained from ETS can be used to spend on and invest<br />

in new green projects.<br />

As the World Bank put it, “allows emitters to decide<br />

to either transform their activities and lower their<br />

emissions, or continue emitting and paying for their<br />

emissions.”<br />

Prof. Hasar explained that carbon pricing emerges with<br />

two main forms of implementation, one of which is<br />

ETS, and the other is carbon taxing.<br />


<strong>February</strong> <strong>2024</strong><br />

“To speak about global carbon pricing instruments,<br />

according to the report published by the World Bank<br />

in May, there are 73 active implementations. Again,<br />

as of 2022, approximately $100 billion of revenue has<br />

been generated from carbon pricing practices. Through<br />

these, 23% of global greenhouse gases were covered<br />

and approximately 40% of the revenues were used for<br />

green transformation purposes,” Prof. Hasar said.<br />

On the EU’s Carbon Border Adjustment Mechanism<br />

(CBAM), which aims to bring in climate tariffs on<br />

imports, and affect Türkiye’s trade with the bloc, Prof.<br />

Hasar said that the adoption of ETS will facilitate<br />

Ankara’s goals toward becoming a green, digitalized<br />

and competitive economy. The director pointed out<br />

that Türkiye has been working on ETS for around ten<br />

years while the project on Carbon Market Readiness<br />

conducted with the World Bank was finalized in 2021.<br />

“With this project, capacity building was achieved in<br />

many areas such as monitoring emissions, analysis of<br />

policy options, simulation and recording system,” he<br />

underlined.<br />

As a next step, Türkiye has currently also entered the<br />

stage of working on capacity needs in coordination<br />

with the Partnership for Market Implementation (PMI),<br />

which assists countries in designing and implementing<br />

pricing instruments suitable for their development<br />

priorities.<br />

“Outputs such as design elements of the emission<br />

trading system, sub-legislation draft studies, economic<br />

impact modeling and registration system will be<br />

obtained,” Prof. Hasar continued, highlighting that ETS<br />

necessitates working together and negotiating with<br />

several institutions of other fields.<br />

A working group has started work on carbon pricing<br />

and developed a range of suggestions. Furthermore,<br />

the Green Deal Action Plan, led in coordination with the<br />

Trade Ministry also has a unit on carbon pricing.<br />

“Due to our position as a candidate country for<br />

the European Union, a separate project has been<br />

scheduled to ensure the compliance of the national<br />

ETS with EU legislation,” he said further.<br />

“The planned schedule is to complete the emission<br />

cap determination, which is one of the design elements<br />

of the ETS, and the completion of the allocation plans<br />

of the facilities included in the system, in October<br />

<strong>2024</strong>, and to begin full implementation with market<br />

transactions at the beginning of 2025.”<br />

Prof. Hasar emphasized that Türkiye’s work on carbon<br />

pricing constitutes an example of the country’s efforts<br />

within the scope of the principle of “common but<br />

differentiated responsibilities,” which summarizes<br />

Ankara’s fair and inclusive approach to combating<br />

climate change. Being one of the countries that is<br />

most vulnerable to global warming and located in the<br />

Mediterranean basin, Türkiye has also stepped up<br />

efforts to draft a climate law. The draft law prepared<br />

by the Environment, Urbanization and Climate Change<br />

Ministry determines activities to primarily decrease<br />

greenhouse gas emissions as well as policies for<br />

climate change adaptation.<br />

“Considering the importance of activities to be carried<br />

out locally, the draft makes it obligatory to prepare<br />

Local Climate Change Action Plans across Türkiye’s<br />

81 provinces. Moreover, regulations have been made<br />

regarding the ETS, which will be implemented for the<br />

first time in our country. Works based on the principle<br />

of setting an upper limit on greenhouse gas emissions<br />

have been introduced, and it has become mandatory<br />

for businesses to obtain a greenhouse gas emission<br />

permit,” Prof. Hasar pointed out.<br />

“Along with all these regulations, the draft also includes<br />

the determination of green investments, which is one of<br />

the important cornerstones in the fight against climate<br />

change – the legal basis for climate finance, climate<br />

change incentives and national green taxonomy<br />

studies has been established,” he said.<br />

Climate change is an issue that goes beyond politics<br />

and affects every part of society with its environmental,<br />

economic and social impacts. Hence, Türkiye this year<br />

rolled up its sleeves for urgent and efficient measures<br />

to fight climate change. Located in the Mediterranean<br />

basin, one of the most sensitive regions in terms of<br />

climate change impact, the country has witnessed<br />

disasters, air pollution, heat waves, wildfires, droughts<br />

and low precipitation.<br />

From “Water Efficiency Mobilization” early in January,<br />

“International Zero Waste Day” which was observed<br />

for the first time this year toward “Environment Week”<br />

celebrations and lastly, the COP28 climate summit –<br />

Türkiye witnessed a tide of significant environmental<br />

endeavors and achievements in 2023.<br />


Türkiye’s EV maker Togg unveils<br />

its sedan model before Europe debut<br />

<strong>February</strong> <strong>2024</strong><br />

Türkiye’s first homegrown electric vehicle maker<br />

announced the expansion of its lineup and unveiled<br />

its second model at the sprawling tech and gadget<br />

show in Las Vegas as it looks to start its expansion into<br />

Europe.<br />

The fastback sedan, the T10F, joins Togg’s debut<br />

model, the fully electric T10X SUV, and is scheduled<br />

to go on sale in Türkiye next year and then in the<br />

European market, according to the company.<br />

“We will introduce the T10F, a fastback reflecting the<br />

spirit of the times, to our users starting from Türkiye in<br />

2025,” Togg CEO Gürcan Karakaş said.<br />

Unveiled at CES, the annual high-tech gadget<br />

extravaganza, the model will be offered with three<br />

technical options and two equipment options.<br />

The T10F RWD (rear-wheel drive standard) with 160<br />

kW/218 horsepower and 350 Nm of torque will have a<br />

range of 350 to 600 kilometers (217.48 to 372.82 miles)<br />

with two different battery options.<br />

The T10F AWD (all-wheel drive) version, which has a<br />

0-100 km/h acceleration of 4.6 seconds and produces<br />

700 Nm of torque, targets a range of around 530<br />

kilometers. The standard-range model has a battery<br />

capacity of 52.4 kWh, while this capacity increases to<br />

88.5 kWh in the long-range model.<br />

The new model will also feature the innovative V2L<br />

(Vehicle-to-Load) capability, enabling the transfer of<br />

electric power from the battery to various electric<br />

devices.<br />

Togg is currently producing the T10X at its plant in the<br />

northwestern Bursa province. The production started<br />

in October 2022 before deliveries were launched last<br />

April.<br />

Besides the SUV and fastback, Togg will manufacture<br />

three other models – a C-hatchback, B-SUV and<br />

B-MPV – by 2030.<br />

Addressing the rationale behind choosing a fastback<br />

design for their second smart device, Karakaş<br />

highlighted the declining market share of sedan models<br />

worldwide.<br />

He emphasized the shift toward fastback models<br />

and said the T10F has been designed to meet sedan<br />


users’ expectations while capturing the zeitgeist<br />

with dynamic, appealing designs targeting a broader<br />

audience.<br />

Karakaş acknowledged that Türkiye remains a<br />

substantial market for sedans, but the worldwide trend<br />

is shifting toward electric vehicles with more diverse<br />

styles and dynamic lines, such as liftback, fastback,<br />

and coupe designs.<br />

The T10F is a version that is more advanced than the<br />

prototype first unveiled in 2019, he noted.<br />

“We have come up with a product that captures the<br />

spirit of the time, is dynamic, highly appealing, and will<br />

address a broader audience,” Karakaş said.<br />

“We are considering entering the market, most likely in<br />

2025, depending on completing the certification.”<br />

Togg’s current production capacity is said to reach<br />

100,000 vehicles per year before increasing to<br />

175,000 once the Bursa plant reaches full capacity.<br />

The brand aims to manufacture 1 million vehicles<br />

across the five segments by 2030.<br />

Togg has delivered around 20,000 T10Xs to date and<br />

plans to more than double that figure this year.<br />

“Our business plan for <strong>2024</strong> includes around 47,000<br />

units, and we are considering a small portion of this<br />

for export,” said Karakaş.<br />

Karakaş shared Togg’s ambition to enter the European<br />

market, with Germany as their initial target by the end<br />

of <strong>2024</strong>.<br />

“We are establishing our presence in Germany. We<br />

aim to enter the German market and expect to do so<br />

by the end of this year,” he noted.<br />

On the infrastructure side, Togg has been establishing<br />

a charging station network across Türkiye under a<br />

brand named Trugo.<br />

It has set up more than 500 rapid chargers with<br />

capacities ranging from 180 to 300 kilowatts, enabling<br />

an 88-kilowatt battery to be charged in under half an<br />

hour.<br />

Karakaş stressed plans to launch battery cell<br />

production as of 2026 and said they aim to position<br />

Türkiye as one of Europe’s hubs in the battery domain.<br />

“When you start producing the battery cell yourself,<br />

you become familiar with the cost and technology of<br />

one of the most valuable products inside the vehicle,”<br />

he noted. Describing a significant transformation in<br />

the development of technology in Türkiye and the shift<br />

of suppliers toward next-generation vehicles, Karakaş<br />

stated, “We are also on the path to make our country<br />

one of Europe’s energy centers in terms of batteries.”<br />

Karakaş highlighted the company’s commitment to<br />

exhibiting not only its automotive brand and strategic<br />

goals but also its expanding portfolio of digital<br />

platforms and smart devices.<br />

“Alongside the T10F, we are also showcasing at CES<br />

our digital experience platform and clean energy<br />

solutions that are ready to enter global markets.”<br />

<strong>February</strong> <strong>2024</strong><br />


Foreign trade in local<br />

currency hit 822 billion liras<br />

Türkiye’s foreign trade in Turkish Lira reached 821.6<br />

billion liras ($27.5 billion) in 2023, rising from 398 billion<br />

liras in 2022, the data from the Trade Ministry have<br />

shown. The country’s exports climbed to a record<br />

$255.8 billion last year, marking a 0.6 percent increase<br />

from 2022. Exports in the local currency amounted to<br />

224 billion liras in 2023, up from 129 billion liras in the<br />

previous year, while imports in the local currency rose<br />

from 269.3 billion liras to 597.5 billion liras.<br />

Foreign trade in the local currency peaked in October,<br />

with exports and imports amounting to 25.3 billion liras<br />

and 62.7 billion liras, respectively.<br />

Last year, Türkiye’s imports stood at $362 billion,<br />

declining 0.5 percent from 2022. Consequently, the<br />

country’s foreign trade gap shrank from $617.9 billion<br />

in 2022 to $617.7 billion in 2023. Meanwhile, the Trade<br />

Ministry issued a statement refuting claims that exports<br />

to Israel increased after the war between Israel and<br />

Hamas started. The trade volume between Türkiye and<br />

Israel was $1.28 billion between Oct. 7 and Dec. 31<br />

last year, down from $2.32 billion in the same period<br />

of 2022, the ministry said. Türkiye’s exports fell from<br />

$1.6 billion to $980 million, while imports were down<br />

from $714 million to $300 million, according to the<br />

statement.<br />

“The trade with Israel is not the trade which goes to<br />

the Jewish part of Israel. It is the trade that also goes<br />

to the 2.2 million Palestinians who are citizens of Israel<br />

and the Israeli-occupied West Bank, East Jerusalem<br />

and Gaza.”<br />

All goods going to the Palestinian region have to pass<br />

through Israeli customs and ports, the statement<br />

added.<br />

<strong>February</strong> <strong>2024</strong><br />


Turkish tech chief touts strong<br />

interest after dayslong China trip<br />

Industry and Technology Minister Mehmet Fatih<br />

Kacır voiced there is strong interest in Türkiye after<br />

a dayslong trip to China, which he said they aim to<br />

convert into substantial investments in the period<br />

ahead. Kacır visited eight different Chinese cities<br />

and engaged with prominent automotive and battery<br />

manufacturing companies, including GAC AION,<br />

Chery, Zeekr, BYD, SAIC, Fararis and Huawei. He<br />

highlighted China’s role as a pioneer in transforming<br />

the automotive industry.<br />

Kacır held talks with Chinese Minister of Science and<br />

Technology Yin Hejun and Minister of Industry and<br />

Information Technology Jin Zhuanglong.<br />

The meetings centered on the possibilities of<br />

cooperation in many fields, from electric vehicles and<br />

battery production to renewable energy and nuclear<br />

power plants.<br />

Chinese automotive companies have surpassed the<br />

world in innovative technologies, enabling them to<br />

export electric vehicles to global markets, the minister<br />

told Anadolu Agency.<br />

Anticipating the emergence of new players in the<br />

global automotive market in the coming period, Kacır<br />

emphasized Türkiye’s efforts to turn the electric<br />

vehicle-focused transformation into an opportunity.<br />

He underscored the significance of the national brand<br />

Togg, which manufactures Türkiye’s first homegrown<br />

electric vehicle.<br />

“Our most important step was introducing our national<br />

brand, Togg. Promptly, Türkiye has taken a significant<br />

move to become one of the leading countries in this<br />

revolution,” said Kacır.<br />

Togg is currently producing a fully electric C-segment<br />

SUV at its plant in the northwestern Bursa province.<br />

The brand launched the production of its T10X in<br />

October 2022 before it started deliveries this April.<br />

Besides the SUV, Togg will manufacture four other<br />

models – a sedan, C-hatchback, B-SUV and B-MPV<br />

– by 2030. The sedan will be officially unveiled by the<br />

end of <strong>2024</strong> and mass production will be launched<br />

<strong>February</strong> <strong>2024</strong><br />


in 2025. That same year, Togg is expected to begin<br />

exports.<br />

Kacır said 20,000 T10Xs will have been delivered by<br />

the end of the year.<br />

Looking ahead, Kacır emphasized the government’s<br />

intention to accelerate this transformation with Togg<br />

and new players.<br />

“The transition to electric vehicles can bring<br />

multifaceted benefits to Türkiye. We emphasize the<br />

importance of electric vehicle transformation for the<br />

2053 carbon-neutral goals,” said the minister.<br />

“Additionally, as a country that has increased the<br />

share of renewable energy in electricity production<br />

through investments in renewable energy, we foresee<br />

widespread use of electric vehicles benefiting our<br />

economy in the long term.”<br />

Expressing the desire to make the country a production<br />

hub, Kacır stated, “Our ultimate goal is to turn Türkiye<br />

into a production center for new-generation cars.<br />

To achieve this, we will continue to support Togg<br />

and make efforts to attract new investments to our<br />

country.”<br />

Kacır also mentioned discussions with Chinese electric<br />

vehicle battery maker Farasis, indicating that the<br />

company would establish a battery cell production<br />

facility in Bursa’s Gemlik district in collaboration<br />

with Togg. Highlighting support for encouraging<br />

investments in next-generation technology, Kacır<br />

said they had conveyed these opportunities to their<br />

counterparts.<br />

“There is a strong interest in Türkiye, and our goal is<br />

to convert this interest into investments, taking steps<br />

that will enable these brands to invest in Türkiye.<br />

We made efforts toward this goal during our visits.<br />

We also saw that they closely follow Türkiye,” he<br />

added.<br />

Kacır asserted that in the coming period, existing<br />

manufacturers in Türkiye would undergo a rapid<br />

transformation focusing on innovative technologies<br />

and new players would continue to invest in<br />

the country. Emphasizing that such trips would<br />

expedite future investments, Kacır cited a visit<br />

to Huawei, which realized significant projects<br />

in the smart transportation solutions field in the<br />

mobility sector. “The company has an R&D center<br />

in Türkiye, contributing to crucial developments.<br />

Learning that many products and systems used<br />

in Huawei’s automotive solutions have been<br />

developed in Türkiye’s R&D center was a source of<br />

pride,” said the minister. “We will continue efforts<br />

to enable Türkiye to gain further momentum in this<br />

field, aiming for it to become a hub for innovative<br />

technologies in the upcoming globalization journey,<br />

with many brands and manufacturers making<br />

Türkiye their destination.”<br />

<strong>February</strong> <strong>2024</strong><br />


Huawei identifies Türkiye as<br />

gateway to Europe for Chinese firms<br />

<strong>February</strong> <strong>2024</strong><br />

Chinese telecommunication giant Huawei highlighted<br />

Türkiye as a country that offers numerous advantages<br />

in terms of investments and expansion of Chinese<br />

enterprises to Europe during the China-Europe<br />

Leadership Forum held in Beijing.<br />

The forum, organized by the company’s cloud<br />

computing branch Huawei Cloud, had a section<br />

named “Türkiye: New Destination for Investments,”<br />

showcasing the country as a gateway for Chinese<br />

companies that want to expand their reach to Europe.<br />

Huawei Cloud announced “The Two 100s” initiative<br />

during the event, which aims to support 100 Chinese<br />

brands and 100 software partners to expand their<br />

global market share by investing in Europe.<br />

Zhang Xiuzheng, vice president of Huawei and<br />

president of Huawei Cloud China, delivered a speech<br />

at the event, emphasizing their aim to provide quality<br />

information and communications infrastructure with<br />

innovative solutions to companies that want to expand<br />

their businesses on a global scale, underlining that<br />

cloud computing is the focus.<br />

Pan Jie, vice president of Huawei Cloud Europe, said<br />

they have developed an advanced cloud computing<br />

infrastructure open to global access, offering more<br />

than 110 cloud services designed for the needs and<br />

compliance procedures of seven European countries,<br />

Ireland and Türkiye.<br />

Atakan Özdemir, chief commercial counselor of<br />

the Embassy of Türkiye in Beijing, emphasized the<br />

advantages of Türkiye’s geographical location for<br />

Chinese companies in trade with the European Union<br />

at the forum.<br />

He highlighted that Türkiye is the best option for<br />

Chinese companies that want to expand their business<br />

activities to Europe, the Middle East and North Africa,<br />

as the country’s extensive land transportation network,<br />

ports and developed infrastructure are connected to<br />

Europe, as well as the already-in-place customs union<br />

and free trade agreements.<br />

He also pointed out that 27% of the products China<br />

imports from overseas can be purchased at more<br />

economical prices in Türkiye.<br />

Ahmet Serhat Turan, China representative of Türkiye’s<br />

Presidential Investment Office, underlined at the event<br />

that 57 countries and a population of approximately<br />

1 billion can be reached with a four-hour flight from<br />

Türkiye. He noted that Türkiye signed free trade<br />

agreements with 28 countries, and when the EU’s 27<br />

countries are added through the customs union, having<br />

a reach to nearly 1 billion people without customs<br />

tariffs is possible via Türkiye.<br />


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