Karsan

The International Finance Corporation (IFC) is helping a leading Turkish automotive manufacturer, Karsan, boost its production of electric vehicles (EVs), strengthen the sector's competitiveness, increase exports and create jobs.

The combined net profit of automotive companies that are listed on Borsa Istanbul increased by more than 96 percent on an annual basis in the first nine months of 2021 to stand at 9.45 billion Turkish Liras (around $841 million).

Turkish carmaker Karsan has introduced Turkey's first domestically produced driverless electric bus, Karsan Atak Electric.

President Recep Tayyip Erdoğan on Feb. 1 attended a test drive of the vehicle.

"Autonomous bus producers will promote Turkey and Turkish brands globally," he said.

Industry and Technology Minister Mustafa Varank was also present at the event.

Turkey's automotive sector topped the country's exports with $30.6 billion in 2019, while Istanbul was the largest exporter city in the country.

Overall exports increased 2 percent to reach $180.47 billion, hitting historical highs in 2019, according to data compiled by Anadolu Agency from the Turkish Exporters Assembly (TIM).