Milestones in the Turkish Electric Vehicle Market
The Turkish automotive market is experiencing a record-breaking streak, particularly in the electric vehicle (EV) sector. According to the Automotive Distributors and Mobility Association (ODMD), a total of 96,793 passenger cars and light commercial vehicles were sold in September alone, marking a 55.9% year-over-year increase. This surge in sales is part of a broader trend, with the overall market from January to September reaching a new high of 857,575 units, surpassing the entire sales of 2022. Notably, the EV market has seen an unprecedented 333.86% year-over-year growth, with nearly 34,600 EVs sold from January through September. This boom is partly attributed to Turkey's first homegrown battery-powered vehicle brand, which has been accelerating its deliveries. Togg, the manufacturer of Turkey's first electric car, delivered 2,204 units of its T10X model in September, ranking second in sales just after Tesla.
TOGG's T10X Electric SUV: A Game-Changer in Turkey's EV Market
TOGG's T10X electric SUV has made a seismic impact in Turkey's electric vehicle (EV) market. The vehicle received an extraordinary 177,467 pre-orders during a campaign that ran from March 16 to 27, 2023. This level of demand is not just a record for TOGG but sets a new benchmark for the entire Turkish EV industry. Astonishingly, within the first four hours of the campaign, TOGG amassed more pre-orders than the total number of electric vehicles sold in Turkey throughout 2022. This surge in demand highlights a growing consumer appetite for sustainable and eco-friendly mobility solutions in Turkey.
The pre-order campaign was facilitated through two primary channels: the TOGG website and the Trumore application. The Trumore application had already seen millions of downloads prior to the campaign, indicating a pre-existing interest in TOGG's offerings. This multi-channel approach played a crucial role in achieving such a high volume of pre-orders.
Innovative Demand Management
To manage this overwhelming demand, TOGG employed an innovative "digital draw" among the registrants. Conducted on March 29, 2023, the draw was broadcast live on Turkish television and TOGG's official YouTube channel, adding a layer of transparency and excitement to the allocation process. Initially, TOGG planned to invite 12,000 interested parties for the draw. However, the sheer volume of interest led them to expand this capacity to 20,000. These 20,000 individuals secured their T10X manufacturing slots through the draw.
Production and Delivery Focus
The manufacturing of these pre-orders is slated to be completed by the end of 2023. TOGG is initially focusing on domestic deliveries, aiming to satisfy the burgeoning demand within the Turkish market before potentially expanding globally.
Financial and Economic Impact
TOGG has committed to a substantial investment of ₺22 billion (approximately $3.21 billion USD). This investment is expected to significantly reduce Turkey's current account deficit, potentially by as much as $7.5 billion USD. A large portion of this deficit is attributed to energy-related expenses, primarily oil imports. The CEO had previously forecasted that this investment could boost Turkey's economy by 50 billion euros over a 15-year span. This economic uplift is expected to be realised through both direct and indirect means, including the creation of new employment opportunities.
A Sustainable Future
The T10X is more than just a vehicle; it's a testament to the rapidly evolving landscape of the automotive industry, particularly in the context of sustainability and eco-consciousness. With its advanced technology and striking design, the T10X promises to be a game-changer not only in Turkey but also on the global EV stage.
Tesla and Turkey
Tesla's prospects in Turkey are looking increasingly promising, especially in light of TOGG's success. Tesla plans to establish an electric vehicle production facility in Turkey next year, which is expected to significantly boost the country's manufacturing capabilities and technological infrastructure. This move is part of a broader trend of increasing adoption of electric vehicles globally and particularly in Turkey.
Tesla's investments are expected to create new avenues for investment and business development in Turkey, thereby increasing the country's appeal for foreign direct investment (FDI). The cumulative foreign investment stock within Turkey could exceed $300 billion, further establishing the country as an attractive hub for international business ventures.
The potential collaboration between Tesla and TOGG is anticipated to significantly accelerate the adoption of electric vehicles in Turkey, thereby driving advancements in sustainable transportation solutions. This partnership could catalyse economic growth, foster technological innovation, and position Turkey as a significant player in the global electric vehicle market.
Turkey's Electric Revolution Gains Momentum
Turkey's electric vehicle (EV) market is experiencing unprecedented growth, with record-breaking sales and a 333.86% year-over-year increase in EV adoption. TOGG, Turkey's first homegrown EV brand, has been a game-changer, receiving an extraordinary 177,467 pre-orders for its T10X electric SUV in just a short campaign period. The company has employed innovative strategies like a "digital draw" to manage demand and has committed to a substantial investment of ₺22 billion to boost Turkey's economy. Meanwhile, Tesla's planned investment in a Turkish production facility is set to further elevate the country's manufacturing capabilities and global competitiveness in the EV market.
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