Turkey Invests 3 Million Euros in Its First Electric Car Brand

The name of the initiative is Turkey Automobile Initiative Group (TOGG), and the board will be made up of people with long experience in the automobile sector. These people include former Bosch manager, Gurcan Karakas, who will be the president, and Sergio Rocha, the current Hyundai director in South Korea.

In total, the project will receive an investment of 3,300 million euros in the coming years. It will be contributed by a consortium of five companies, including the local telephony giant Turkcell. This will allow building a factory that will be located in the town of Bursa, northwest of the country. A facility that will have a total of 4,000 employees and a production capacity of 175,000 units per year.

The plans are to present the first prototype in the next few days and to have the factory ready in 2021. This will be when it will begin to produce vehicles that most likely target the European market where much of its current production of conventional models is destined.