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Türkiye’s Electric Vehicle Market Set for 61% Annual Growth, Propelled by Togg and Global Automakers

Title: Türkiye’s Electric Vehicle Sales Poised for 61% Yearly Expansion

Subtitle: The rising popularity of electric vehicles in Türkiye is projected to drive significant growth in the coming years, with sales expected to increase by nearly 61% annually, according to a recent report. This surge is fueled by the introduction of the country’s first domestic electric car brand, Togg, and the entry of global automakers like Tesla.

Sales of electric vehicles (EVs) in Türkiye have experienced a remarkable surge this year, rising ninefold in the first ten months compared to the previous year. This growth can be attributed to the successful launch of Togg, Türkiye’s first domestically produced electric car brand, as well as the entrance of established global automakers like Tesla into the market.

According to data compiled from the “Turkey Electric Vehicles Profile” country report by research firm BMI, EV sales are projected to grow by an average of 60.8% annually until 2032. This growth trajectory is expected to elevate the share of EVs in the total passenger car sales to 30.4%, a twofold increase compared to previous forecasts.

In 2022, the share of EVs in total car sales was only 1.3%. However, this figure is expected to reach 4.1% in 2023. The report also predicts that by 2032, the total number of electric passenger vehicles in Türkiye will reach 259,500.

In October alone, EV sales in Türkiye skyrocketed, with 9,832 units sold, accounting for 11.9% of the overall market. Togg, the manufacturer of Türkiye’s first electric car, outpaced Tesla by delivering 3,567 units of its C-segment SUV T10X in October, bringing its total deliveries since April to 9,171 units. Tesla, on the other hand, sold 500 units of its Model Y last month, with a total of 10,700 units sold so far this year.

While the trajectory of increased EV sales is expected to continue into 2024, the report highlights that the overall market share of EVs in the automotive industry may be constrained due to taxes imposed on these vehicles. However, the report suggests that supportive measures, particularly for Togg, could be introduced to encourage the widespread adoption of electric vehicles.

Togg has ambitious plans for the future, aiming to produce one million units by 2030 and begin exporting to European markets by 2025. These plans, coupled with potential government support, have the potential to further accelerate the growth of the electric vehicle market in Türkiye.

As Türkiye embraces electric mobility, the country is poised to become a significant player in the global electric vehicle market, contributing to a more sustainable and environmentally friendly transportation sector.

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