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Turkish electric vehicle to compete in own market segment - minister

20 October 2022 17:36 (UTC+04:00)
Turkish electric vehicle to compete in own market segment - minister

By News Center

TOGG, Turkiye's first local electric automobile, will be priced competitively in its own market segments, Yeni Shafak reports, citing Industry and Technology Minister Mustafa Varank.

Varank made the remarks in an interview with Turkish A Haber channel on October 20.

"The C-class SUV will be priced to compete in its own class in the market. Those interested in the price of TOGG may thus compare it to the prices of other cars in the same class. Citizens can compare the costs of different cars, such as diesel SUVs and diesel SUVs. The pricing will be determined by the firm. It would be inappropriate to disclose specific pricing for a vehicle that will be available in March," the minister said

Varank stressed that TOGG is a long-awaited vehicle in the country.

"It is not just Turkiye's first domestic automobile, but also the country's first car. Turkiye has already had a Devrim Otomobili journey. But that project never materialized. Turkiye has been waiting for years for its first vehicle. Indeed, as our colleagues at TOGG put it, ‘it is a project that goes beyond a vehicle," the minister emphasized.

Varank added that the government was working on the project nonstop.

"On October 29, President Recep Tayyip Erdogan will inaugurate the Gemlik facility. The first mass-production automobiles will roll off the assembly line. We are frantically preparing for it," he underlined.

Varank stated that interest in the C segment has surged lately.

"In this regard, the price policies are the subjects that the firm will set, but our colleagues have declared that they will be on the market with the C segment SUV from the first day. We will be in the market with a C-segment SUV vehicle. The pricing will be comparable to the market's C-category SUV automobiles. Despite being electric, it will be priced competitively with diesel-gasoline automobiles. The C segment is gaining popularity. Although there is high interest, no preliminary requests have been received so far,” Varank said.

The minister emphasized that several commercial initiatives have been made.

“Since we originally announced this idea and introduced these automobiles in late 2019, our residents have been curious about the pricing. Naturally, this is a private-sector investment and therefore the corporation is attempting to develop a brand in addition to making an automobile. It is attempting to launch a business venture,” Varank said.

Turkiye's Automobile Joint Venture Group Inc. (TOGG) is an automotive company founded as a joint venture in 2018. Anadolu Group, BMC Turkiye, Kok Group, Turkcell, and Zorlu Holding are major stakeholders under the umbrella institution TOBB. In the joint venture, TOBB has a 5-percent share and other companies own 19 percent shares for each.

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