Turkey revealed its first domestically-produced automotive on Friday, saying it aimed to eventually produce as much as 175,000 a year of the electric car in a venture expected to cost 22 billion lira ($3.7 billion) over 13 years.
The project has been a long-time objective of President Tayyip Erdogan and his ruling AK Party as an illustration of the nation’s growing economic abilities.
Talking on the unveiling ceremony, Erdogan stated Turkey aimed not only to promote the car domestically but further wanted it to become a name in the international market, starting with Europe.
Following his speech, a red SUV model of the automobile and another grey sedan one were raised onto the stage, featuring the TOGG label of the consortium that’s constructing them.
Erdogan said the charging infrastructure for EVs could be prepared nationwide by 2022.
Turkey is already a giant exporter to Europe of vehicles made domestically by firms equivalent to Ford, Fiat Chrysler, Renault, Toyota, and Hyundai.
The brand new venture, launched in October, will obtain state support such as tax breaks and set up a manufacturing facility in the automotive center of Bursa in northwest Turkey, based on a presidential choice in the nation’s Official Gazette.
Five models of the automobile shall be produced; the assertion said, including the federal government had assured to purchase 30,000 of the vehicles by 2035.
Erdogan first released plans in November 2017 to launch an automotive made entirely in Turkey by 2021.
TOGG’s CEO is former Bosch executive Gurcan Karakas, and its chief operating officer is Sergio Rocha, former GM Korea chief executive. It mentioned it could start manufacturing in 2022 with compact SUVs.