As part of cooperation with global battery giant Farasis, joint venture to be formed in Turkey, CEO says
The first Turkish car’s batteries will be produced domestically, the CEO of Turkey’s Automobile Initiative Group (TOGG) said on Saturday.
As part of the memorandum of understanding with the global battery giant Farasis, a joint venture will be formed in Turkey, Gurcan Karakas stressed during Turkey Innovation Week virtually held by the Turkish Exporters’ Assembly.
The joint venture will also focus on energy storage solutions, he underlined.
Speaking about TOGG’s production facility, he said it will be established on an area of 1.2 million square meters (12.9 million square feet) and it will have the manufacturing capacity of 175,000 units annually.
In the first phase, TOGG will produce C-segment sport utility vehicle (SUV), followed by C-segment sedan, C-segment hatchback, B-segment SUV and C-segment multi-purpose vehicle.
TOGG was established in 2018 under the leadership of The Union of Chambers and Commodity Exchanges of Turkey (TOBB) by companies of Anadolu Group, BMC, Root Group, Turkcell and the Zorlu Group via a collaboration.