TOGG

The size of Türkiye's electric car market is expected to nearly double this year as sales are forecast to reach 120,000 units.

Last year, 72,179 EVs were sold in the country, pointing to an 833 percent increase from 2022, which made Türkiye the fastest-growing EV market in Europe. In terms of the number of EV sales, Türkiye ranked 8th in Europe.

Türkiye's first domestically produced electric vehicle Togg has unveiled its new sedan model T10F at CES 2024, a major consumer electronics and IT fair being held in Las Vegas.

Türkiye's auto market expanded more than 57 percent last year from 2022, with passenger cars and light commercial vehicle sales hitting an all-time high of 1.23 million.

From January to December 2023, a total of 967,342 passenger cars were sold in Türkiye, marking a robust 63.2 percent increase from the previous year.

The mass production of Türkiye's second homemade electric vehicle Very is expected to commence in 2025.

Very was developed by a tech company Evry, which was launched at the Yıldız Technical University Yıldız Techno Park.

Türkiye's electric vehicle market is expected to continue to grow at a fast pace well into 2024, with EV sales forecast to reach 100,000 units in the new year.

The EV market's expansion last year was astonishing. In January-November of 2023, a total of 60,101 EVs were sold in Türkiye, marking a staggering 867 percent increase from the same period of the previous year.

Türkiye may become a hub for the production of innovative technologies, Industry and Technology Minister Mehmet Fatih Kacır has said.

"We will continue to work for this to happen," Kacır said, commenting on his recent visit to China, where he met with top government officials and representatives from major Chinese companies, including carmakers and Huawei.

With more than 60,000 electric vehicles sold this year and sales leaping nearly 870 percent, Türkiye is presently ranking eighth largest market for EVs in Europe.

Industry and Technology Minister Fatih Kacır has said during his ministry's budget discussion for 2024 that Türkiye will contribute $7 billion a year to closing the current account deficit by implementing 185 projects focusing on medium and high technology with an investment of $66 billion.

The research teams have largely completed tests of Türksat-6A, Türkiye's first domestically produced communication satellite, Industry and Technology Minister Mehmet Fatih Kacır has announced.

President Recep Tayyip Erdoğan has said that they aim to make Türkiye one of the world's leading actors in electric vehicle and battery production.