Atumotive Exports April 2023

1

Monthly automotive aftermarket magazine 

GROUP CHAIRMAN 

H. FERRUH ISIK 

PUBLISHER: 

İstmag Magazin Gazetecilik 

İç ve Dış Ticaret Ltd. Şti. 

Managing Editor (Responsible) 

Mehmet Söztutan 

mehmet.soztutan@img.com.tr 

Advertising Sales Consultant 

Adem Saçın 

+90 505 577 36 42 

adem.sacin@img.com.tr 

EDİToR 

Mehmet Soztutan, Editor-in-Chief 

mehmet.soztutan@img.com.tr 

Enes Karadayı 

enes.karadayi@img.com.tr 

International Marketing Coordinator 

Ayca Sarioglu 

ayca.sarioglu@img.com.tr 

Advisory Editor 

Yusuf Okçu 

yusuf.okcu@img.com.tr 

Finance Manager 

Cuma Karaman 

cuma.karaman@img.com.tr 

Digital Assets Manager 

Emre Yener 

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Technical Manager 

Tayfun Aydın 

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Graphic & Design Advisor 

Sami aktaş 

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Accountant 

Yusuf Demirkazık 

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Subsciption 

İsmail Özçelik 

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We are at Automechanika Astana 2023 

The automotive industry is one of the remarkable “locomotives” of the Turkish economy. 

It assembles some of the country’s largest exporters and represents one of the leading 

investor industries. A multitude of enterprises engage themselves in both production and 

trading, adding enormous value to the already dynamism of the automotive industry. 

Türkiye's autoparts industry exports are increasing steadily year by year. 

Competitiveness at the domestic level has been replaced with competitiveness on a 

global scale. The Turkish automotive industry, which was originally founded for importsubstitution 

purposes and focused on the domestic market for a long period, transformed 

itself into a production base for a number of global models. 

In motor vehicles, a large number of EU legislation was adopted. Turkey has been 

continuing efforts to introduce the relevant legal arrangements, and significant progress 

has been achieved in this field. 

It is the only country within the surrounding geographical area to have established a 

well-advanced automotive industry. Therefore, the automotive industry is strategically 

important both for Türkiye and for the firms that invest in Türkiye. 

The Turkish automotive supplier industry produces almost all types of parts, components 

and spare parts such as engines and engine parts, power train parts and components, 

brake and clutch parts and components, hydraulic and pneumatic systems, suspension 

systems, security systems, rubber and plastic parts, chassis, frames and parts, casting and 

forging, electrical equipment and parts, lighting systems, accumulator batteries, seats etc. 

The structure of the automotive industry is changing dynamically, making Türkiye an 

alternative suppliers center for global manufacturers. 

Actually, the brand name Automechanika signifys successful fairs for the automotive 

original equipment manufacturing and aftermarket industries around the world. Whether 

in Europe, Asia or the Americas, Automechanika aims at providing the ideal trading and 

information platform for automotive professionals. 

Messe Frankfurt’s international expertise in the field of trade fair organization 

and in-depth knowledge of the most dynamic markets provides the base for each 

Automechanika Fair. 

This month, we are at Automechanika Astana, 2023 to convey the messages of Turkish 

auto parts industrialists and exporters. 

Our publications remain at the service of those business people seeking to increase their 

share in the increasingly competitive automotive markets. 

We wish Turkish automotive exporters and their trading business people lucrative 

business. 

automotiveexport 

automotiveexports

Automechanika Astana will be held at the International 

Exhibition Center EXPO, in the capital of Kazakhstan, 

April 12-14, 2023 

Automechanika Astana is a meeting point 

for the automotive business community: 

in the constantly changing economic 

conditions. It is important to know how 

to establish new supply chains as well 

as find direct helpful contacts. And the 

exhibition is an opportunity to discuss the 

details in person. Leading manufacturers 

and suppliers of automotive components, 

equipment and car maintenance 

products, such as Meiji Sangyo Company, 

TruckMotors, Bohnenkamp, Oscar 

Lubricants, Autograd and many others, will 

present their products in April. In addition, 

many brands can be found at the stand of 

BrainStorm, one of the key online stores for 

car service equipment in Eurasia. 

The international status of the exhibition 

is confirmed by companies from Spain, 

Thailand, Japan, Latvia, Poland, Belarus, 

USA, UAE. Last year experience also 

showed the demand for auto parts 

from China, so in 2023 a whole China 

pavilion will be organized. It will present 

such big players as tire manufacturers 

Huasheng and Roadboss, one of the 

leading manufacturers of shock absorbers 

and suspensions in China Zhejiang Gold 

Intelligent Suspension Corp, developer 

of scanning systems Newland and other 

companies. 

“And this, of course, is not the limit. Now 

we see the demand of foreign companies 

for cooperation with the actively 

developing Central Asian region,” the press 

center of the exhibition explained. 

Traditionally, the exhibition for trucks 

and commercial transport Futuroad 

Expo Astana will be collocated with 

Automechanika Astana. For example, this 

year SVS Trans will be among the exhibitors 

again. The spare parts for Isuzu, Man, 

Komatsu, Volvo, Carrier brands will be 

presented at the company stand. The “Fire 

Safety Center” group of companies decided 

to exhibit for the first time, diversifying the 

standard exposition with the fire-fighting 

equipment. The largest domestic vehicle 

manufacturer Allur will also take part in the 

exhibition. Visitors will have an opportunity 

to get acquainted with the latest samples 

of commercial, municipal and road 

construction vehicles and a wide range of 

auto parts. 

April 2023 10

Innovation and Digitalization offer 

opportunities to the global automotive 

aftermarket 

Automechanika Dubai Network Event shared 

insights from key industry leaders 

Dubai, UAE: The global automotive 

aftermarket will see incredible change 

as the impact of digitalisation takes hold 

across multiple sectors of the industry, 

the audience heard at the Automechanika 

Dubai Network today. Industry thought 

leaders came together to share insights 

with over 100 attendees representing 

a wide spectrum of the automotive 

aftermarket and service industry including 

OEMs, wholesalers, distributors, garages, 

workshops, fleet owners and consultants. 

There are multiple disruptive trends 

impacting the automotive aftermarket, 

with digitisation a significant driver, 

according to Vishal Pandey, Director, 

Glasgow Research and Consulting Group 

(GCG). These include connected vehicles, 

autonomous driving, electrification, 

the increasing importance of software, 

digitisation of channels and interfaces, 

the importance of big data. In addition, 

a shift in competitive power and shared 

multimodal and micro mobility. 


Connected Vehicles Driving Change 

The mobility landscape is changing globally, 

with a focus on connectivity in particular, 

according to Sheerhan Jeaudeen, Head of 

Region, Middle East and East Africa and 

Managing Director, ZF Services Middle 

East. Citing predictions that almost 60% 

of all new vehicles will be connected by 

2030, Jeaudeen reminded attendees that 

a connected aftermarket will benefit all 

segments of the industry and help to 

achieve maximum uptime by connecting 

workshops and vehicles and ultimately 

create new methods of fleet management. 

“For aftermarket players, increasing 

connectivity delivers the potential of 

closer, more immediate relationships with 

customers,” Pandey concurred. GCG’s 

figures predict an even quicker penetration, 

expecting 75% of vehicles to be connected 

by 2025. He continued, “Advanced 

breakdown service transmits data to 

enable the responding party to deliver 

appropriate service, including necessary 

car parts,” and described a step change 

in services, adding that remote on-board 

diagnostics could lead to preventive service 

based on driving behaviour and vehicle 

usage replacing regular time-based service 

intervals as one example. 

E-Commerce Offers Opportunities 

With e-commerce in the GCC overall 

predicted to grow at a CAGR of 28% by 

2027, particularly in the UAE and Saudi 

Arabia, Subhashree Ramarathnam, 

Principal Consultant - Mobility Practice, 

Frost & Sullivan (F&S) provided an in-depth 

analysis of how aftermarket business 

models are shifting due to digitisation 

of parts retailing in addition to vehicle 

servicing. Ramarathnam noted that 

industry consolidation and integration 

are forcing aftermarket participants to 

extend their value proposition, while at 

the same time Covid19 gave a significant 

push towards online sales of vehicle parts 

and accessories and growth of service 

aggregators providing convenience to 

customers at their doorstep. 

Comparing the traditional aftermarket 

ecosystem to the new digital ecosystem, 

Ramarathnam noted that GCC platforms 

offer limited functionality. With research 

conducted by F&S finding that around 75% 

customers would prefer to get parts fitted 

professionally but 50% keen to purchase 

online, they recommend tapping this 

value chain with integrated intuitive digital 

options and in depth product content to 

enhance the customer journey. 

Automechanika Dubai to Drive 

Industry Forward 

With the automotive aftermarket industry 

clearly at the precipice of significant 

change, Automechanika Dubai aims to 

provide the industry with a platform to 

not only discuss these opportunities, but 

to drive and shape the outcome of the 

growth. 

“These Network events are a key part of 

Automechanika Dubai,” said Mahmut Gazi 

Bilikozen, Portfolio Director at organisers 

Messe Frankfurt Middle East. “By bringing 

together some of the latest research 

from thought leaders, we can share with 

attendees a snapshot of the industry and 

how it is changing. For Automechanika 

Dubai 2023 we will be adding new features 

including expanded knowledge streams, 

such as Innovation4Mobility which will 

include Innovation talks, StartUp Zone, 

Energy4Mobility, Digitech4Mobility and 

R&D4Mobility, alongside many others.” 

The 20th anniversary edition of 

Automechanika Dubai will be held on 

2 – 4 October 2023 at the Dubai World 

Trade Centre bringing together over 1,700 

exhibitors from 60+ countries. 

April 

2023 

14

Key actors of the automotive aftermarket industry will 

meet at Automechanika Istanbul for the 16th edition 

Automotive aftermarket sector aims higher in exports in 2023 

The automotive industry has a share of approximately 13% in 

Türkiye’s exports and aims to increase its exports to countries such 

as Germany, France, UK, USA, Poland and Belgium to reach an 

annual volume of over 30 billion USD. Industry players with product 

categories such as parts and systems, troubleshooting and repair, 

accessories and customization, electronics and connectivity, car 

wash and maintenance center, dealer and workshop management, 

alternative driving systems & fuels and lubricants achieve growth in 

export sales and volume by taking part in Automechanika Istanbul 

regularly for 15 years. The automotive aftermarket industry 

reached export volumes of 25.5 billion USD in 2020, 29.3 billion 

USD in 2021 and 30 billion USD in 2022 while global trade was in 

trouble due to the pandemic. The industry now plans to set the bar 

higher with the business potential generated by Automechanika 

Istanbul. 

The world’s no.1 trade fair brand for the automotive aftermarket 

industry, Automechanika’s largest trade platform in the region 

where continents meet, Automechanika Istanbul 2023 is eagerly 

awaited by the entire automotive aftersales industry. 

Automechanika Istanbul, which brought automotive industry 

professionals from all over the world together for the 15th 

time last year which achieved significant success by hosting 825 

exhibitors from 28 different countries and a total of 48,354 industry 

professionals from 141 countries. The fair aims to break a new 

record by reaching over 1,000 exhibitors and over 50,000 visitors 

this time at its big meeting to be held at Istanbul TUYAP Fair and 

Congress Center on 8-11 June 2023. 

Automechanika Istanbul will also contribute to the development of 

the region which got affected by the earthquakes of February 6th, 

by working closely with institutions and organizations in Türkiye 

together with its global business partners. 

Automechanika: More than 50 years of experience in the 

automotive aftermarket industry 

Automechanika brand has a history of more than 50 years which 

first started in Frankfurt in 1971. Today, Automechanika trade fairs 

are held in 13 different cities around the world, including Istanbul 

since 2001 with a unique feature that brings the continents of 

Europe, Asia and Africa together. Organized by the partnership 

of Messe Frankfurt and Deutsche Messe which are the two 

giant companies of the global events industry, Automechanika 

Istanbul 2023 will be held at Istanbul TUYAP Fair and Congress 

Center between June 8th and 11th. The exhibitor allocations of 

Automechanika Istanbul 2023 is now complete and the main theme 

of the trade fair will be “sustainability”. 

The theme of “sustainability” will be highlighted at 

Automechanika Istanbul 2023 

As the automotive industry focuses more on sustainability with 

the impact of supply chains, the climate crisis and the change in 

consumer preferences around the world, sustainability-oriented 

approaches in the supply chain, employment and production 

policies will be highlighted at Automechanika Istanbul 2023. 

The trade fair will present environmentally friendly solutions of 

new-generation automotive aftermarket technologies and the 

changes in the automotive industry with an entirely new concept. 

In a special area called “Connection 4 Mobility”, Automechanika 

Istanbul 2023 will offer automotive industry professionals the 

opportunity to experience the spare parts, charging systems, 

software, workshop and service ecosystem physically. 

Innovation 4 Mobility speacial area and Automechanika 

Academy programme will present the future of the 

industry 

In the special area of “Innovation 4 Mobility”, a wide range of 

content from autonomous driving to digital transformation, from 

connected vehicles to fuel systems will be presented to industry 

professionals at Automechanika Istanbul. In this special area, an 

exemplary service station, which will include all the necessary 

after-sales equipment and eye-catching cars for an electric vehicle, 

can also be visited. Thanks to the presentations, panels, trainings 

and workshops organized within the scope of Automechanika 

Istanbul, sector representatives will have the opportunity to 

evaluate the developments in the sector and comments on 

the future and contribute to their professional development. 

Automechanika Academy is now a traditionally important part 

of Automechanika Istanbul which consists of high standards of 

educational, informative and enlightening presentations, interviews 

and sessions with the participation of experts in their fields. The 

events held during the trade fair are aimed that the team members 

of R&D, design and production departments of large-scale regional 

and national automotive manufacturers get up-to-date information 

about the latest developments, know-how, trends and technologies 

in the sector. 


From automobiles to computers, display tech race heats up 

From giant screens to smart mobile 

phones, consumer electronics dominated 

this year’s edition of the annual technology 

mega-show that saw hundreds of 

companies and startups of all sizes descend 

on Las Vegas over the past few days. 

Although autonomous and electric 

vehicles, long been pitched as the new 

dawn of transportation, seem to have again 

been in the focus, the popular CES 2023 

gadget fest showcased another heated race 

on the mobility side: Screens. 

As display technology continues to develop, 

the concept of mobility is changing with 

autonomous driving. Everyone in the 

car, including the driver, will be more 

engaged with the screens in the vehicle. 

In other words, the race continues for the 

entertainment and information displays of 

cars. 

Togg, the developer of Türkiye’s first 

homegrown electric vehicle, also attracted 

attention at this year’s CES, showing off its 

multiple mobility solutions. 

All in all, although the screens have 

changed in size and shape, they have 

remained the focus of the world’s biggest 

tech mega-show, formerly known as the 

Consumer Electronics Show. 

Now there is a need for faster, more 

powerful computers and screens for both 

gaming and cars. Investments continue 

to pour in for devices that perform more 

processes and increase data and display 

technology for autonomous driving. 

Whoever dominates the voice commands 

and screens will lead the race. Even though 

platform companies seem to be ahead in 

voice command, more capable competitors 

are also preparing to join the race. 

Talented partners are what almost all 

automotive companies are looking for. 

This year’s CES edition was also dominated 

by the German luxury automaker BMW’s 

unveiling of a prototype for a car that talks 

like a human being, changes colors to suit 

the driver’s mood and has no screens on its 

dashboard. 

The BMW i Vision Dee features an 

advanced Head-Up Display, which is all 

about giving drivers a choice of how much 

augmented reality they want to see as they 

drive. With this system, combined with 

the BMW Mixed Reality Slider, the driver 

specifically adjusts what information the 

system will show as part of the Shy-Tech 

approach. 

Among the options consisting of five 

different steps, information about 

traditional driving, the content of the 

system, smart device connectivity, 

augmented reality projection and Dee’s 

virtual world can be accessed. 

BMW i Vision Dee is able to disconnect 

from the outside world by gradually 

dimming the windows thanks to the mixed 

reality it features to increase driving 

pleasure for its 

Automotive giants continue their 

investments in autonomous driving to 

compete with technology giants. 

Stellantis, one of the world’s leading 


automotive groups, in late December 

announced it had completed the 

acquisition of aiMotive, a leading developer 

of advanced artificial intelligence and 

autonomous driving software, to accelerate 

the autonomous journey. 

The aiMotive will operate as a subsidiary 

of Stellantis while supporting the mediumterm 

development of the all-new STLA 

AutoDrive, the group’s autonomous driving 

technology platform, and will continue to 

offer part of its existing technology product 

portfolio to third-party customers. 

This year’s CES edition also saw the debut 

of ASUS’s ROG Swift Pro PG248QP, a 

monitor that delivers a peak 540 Hz refresh 

rate, a first in the world, across its 24-inch 

E-TN panel. 

The 24.1-inch FHD (1920x1080) monitor 

with an ultrafast 540 Hz refresh rate is 

designed for professional gamers and 

immersive gameplay. 

The model, which has a unique appearance 

with its ergonomic stand featuring 

extendable clips, opens up a convenient 

place on the table for players who want to 

keep their keyboard and mouse close to 

the monitor. 

The NVIDIA Reflex Analyzer on the built-in 

NVIDIA G-SYNC processor measures endto-end 

system latency, showing gamers 

how their system is performing. The built-in 

ESS USB codec offers almost zero audio 

latency, with an environmental sound 

effect along with the sounds of weapons 

and footsteps in games. 

Asus also announced their forthcoming 

ROG Strix XG49WCR gaming monitor. This 

49-inch monitor features a 5120x1440 

resolution with a native 165 Hz refresh 

rate and a 1800R curve, offering extremely 

impressive and fluid visuals in games. 

Thanks to the Smart KVM switch, players 

can easily continue to use the keyboard 

and mouse when switching between two 

different devices connected to the monitor. 

Supporting HDR technology, Strix XG49WCR 

offers amazing HDR performance with a 

125% sRGB professional color gamut and 

factory calibration with Delta E

Hawk-Eye’s multi-view videos by live sports 

data and virtual characters can now be 

reproduced on the SR Screen as a new 

entertainment style. 

The use of laptops as tablets provides users 

with the flexibility of use. 

The new upgraded NXTPAPER technology 

showcased at CES 2023 is also used in TCL’s 

first detachable 2-in-1 laptop, the TCL Book 

X12 Go. 

Like the NXTPAPER 12 Pro, the Book X12 Go 

has a portable, lightweight design with a 

3:2 aspect ratio and comes with a 12.2-inch 

2K display with low blue light. 

The innovative 2-in-1 structure of the 

device fits perfectly into flexible lifestyles. 

The detachable keyboard allows for a 

traditional PC setup for typing users, while 

the thin X12 Go can also be used as a tablet 

when the keyboard is removed. 

With these features, the device provides a 

versatile usage opportunity. Thanks to the 

use of multi-screen, you can go beyond 

managing projects on just one screen and 

share files with other devices and project 

them on their screens. 

The X12 Go was built for unlimited 

productivity, so professionals or innovative 

people never have to compromise on 

bringing their ideas to life. With preinstalled 

Windows 11 Home, calendars, 

emails and documents become even easier 

to use. The efficient Qualcomm Octa-Core 

Snapdragon 7c Gen 2 allows the X12 Go 

to handle every task throughout the day, 

while its long-lasting battery provides up to 

14 hours of power on a single charge. 

The X12 Go’s NXTPAPER display also 

produces a tactile feel that provides an 

effortless typing experience. The screen 

has anti-fingerprint glass that is free of 

smudges and fingerprints, offering smooth 

and stable use thanks to its nano-chemical 

material coating. Thus, the E-Pen can be 

used on the surface sensitively and easily. 

Türk Telekom, one of Türkiye’s leading 

information and communication 

technologies companies, unveiled its 

goals toward helping to further grow the 

country’s startup ecosystem at this year’s 

CES edition. 

CEO Ümit Önal said that they are working 

with the goal of exporting the technology 

solutions developed by Türk Telekom to the 

world. 

“With TT Ventures, our corporate venture 

capital company, we invest in domestic 

technology startups and develop business 

partnerships with them and aim to show 

their potential in the global arena,” Önal 

said. 

Türk Telekom CEO Ümit Önal poses for a 

photo during the CES 2023, the world’s 

largest annual consumer electronics show, 

in Las Vegas, Nevada, U.S., Jan. 7, 2022. 

(IHA Photo) 

“With this motivation, we will be a bridge 

connecting startups to the world with the 

TT Ventures Office we have opened in San 

Francisco,” he added. 

Önal also visited the area within the scope 

of CES hosting the startups from Türkiye, 

including ventures that graduated from TT 

Ventures’ acceleration program PILOT. 

Held from Janç 5-8 in Las Vegas, the 

world’s largest consumer electronics 

show featured the latest innovations in 

artificial intelligence, sustainability, energy 

management, autonomous vehicles, smart 

cities and digital health, while the startup 

ecosystem also dominated the stage. 

Önal said that bringing Turkish brands to 

the world stage will only be possible with 

the strengthening of the entrepreneurial 

ecosystem in the country, adding that they 

consider any kind of work that will reduce 

dependence on foreign technology as a 

national task. 

“With our corporate venture acceleration 

program PILOT under the roof of TT 

Ventures, we are opening the doors 

to growth and value for startups. With 

this motivation, we aim to be a bridge 

connecting startups to the world with the 

TT Ventures Office we have opened in San 

Francisco. Thus, we will open the valuable 

ideas coming out of our country to the 

world through Silicon Valley, where the 

heart of technology and innovation beats, 

and we will strengthen the ecosystem here 

by carrying the innovative ideas in the 

world to our country,” he noted. 

The total amount of investment received 

by PILOT graduates operating in almost 

all countries, from Asia and Europe to 

North America and South America, has 

approached $20 billion, Önal said. 

“Three of these startups have investors 

from the United States, namely MentalUP, 

which offers a brain exercise application for 

children, Bluedot, our startup that offers a 

charging station solution, and Cineshort, a 

short movie-watching mobile application,” 

he added. 



20

Booming demand prompts Türkiye to 

pledge more homegrown Togg cars 

Türkiye’s first domestically manufactured 

car brand will be delivering more units 

than it had earlier planned as part of the 

initial deliveries due to booming demand 

after the automaker launched the preorder 

process. 

Yet, both the size of the first batch of fully 

electric C-segment SUVs to be distributed, 

as well as the date of the draw, have been 

changed, the company said . 

The statement came as Turks have been 

flocking online seeking to be among 

the first owners of the country’s first 

domestically manufactured car, which went 

into production within five years from its 

design phase. 

Togg said it now plans to deliver 20,000 

units of T10Xs to buyers that will be 

selected in the draw set for. 

The change came after the company said 

more than 100,000 people submitted 

applications in the first week after the 

preorder process was launched. 

“We thank you for your great interest, 

we are increasing the number of T10X to 

be delivered by lottery from 12,000 to 

20,000,” it wrote on Twitter. “The last day 

for preorders is March 27 

Users who use a Tru.ID via the Trumore 

application or the Togg website are entitled 

to participate in the draw by configuring 

the T10X they want to preorder and 

making the down payment of TL 60,000 to 

the Trumore e-Wallet via money transfer 

or credit card. Togg’s first model will have 

a price ranging from TL 953,000 (around 

$50,230) to around TL 1.22 million. 

The vehicle is being manufactured by a 

consortium of five Turkish companies called 

the Automobile Initiative Group of Türkiye, 

or Togg, in cooperation with the Union of 

Chambers and Commodity Exchanges of 

Türkiye (TOBB). 

Having begun mass production in late 

October, Togg said the fully electric T10X 

would be initially sold with one engine and 

two battery options. 

The model will feature a range of 314 

or 523 kilometers (195 or 325 miles), 

depending on the battery size. The twinengine 

type will also be offered for sale in 

the coming period. 

The first version of the T10X is able to 

accelerate from zero to 100 kph (62.14 

mph) in 7.6 seconds, while the second, for 

which delivery will start on Oct. 29, can do 

zero-100 kph in 4.8 seconds. 

The second version also sports an allwheel 

drive, featuring 320 kW power (435 

horsepower). 

The batteries of the Togg T10X can be 

recharged to up to 80% from 20% in less 

than 28 minutes at fast-charging stations. 

Drivers can choose from six different color 

options for the electric vehicle. 

Calling itself a technology brand that 

blends digital and physical experiences, 

Togg has joined hands with multiple 

startups to produce a new mobility 

ecosystem. 

Besides the SUV, Togg will manufacture 

another four models – a sedan, 

C-hatchback, B-SUV and B-MPV – through 

the year 2030. The sedan will follow the 

mass production of the SUV. 

The carmaker earlier said it aimed to 

produce up to 20,000 cars this year. 

Although it marks a low level compared 

to global standards, Togg achieving this 

output level will see it more than doubling 

Türkiye’s electric car fleet within a year. 

The current production capacity stands at 

around 100,000 vehicles per year, a figure 

that is expected to reach 175,000 once 

Togg’s factory reaches full capacity. 

The brand aims to produce 1 million 

vehicles across the five segments by 2030. 


Court freezes all Volkswagen assets in Russia 

Volkswagen’s assets in Russia were frozen 

by a court, in a move that marks the 

latest obstacle to the German carmaker’s 

year-long efforts to wind down its Russian 

operations. 

Volkswagen, along with other foreign 

carmakers, suspended operations in Russia 

last year after Western countries imposed 

unprecedented sanctions on Moscow over 

the conflict in Ukraine. 

Volkswagen has been trying to sell its 

Russian assets, including its flagship 

plant in the city of Kaluga, which has a 

production capacity of 225,000 vehicles 

a year and has been furloughed since 

March 2022. Russian auto manufacturer 

GAZ, which was contracted to produce 

Volkswagen vehicles at its factory in Nizhny 

Novgorod, sought to halt any sale as part of 

a lawsuit against the German carmaker for 

what GAZ says is a breach of contract after 

Volkswagen terminated the production 

agreement in August. 

In court filings, GAZ said Volkswagen’s 

attempts to exit the Russian market put its 

own interests at risk and it is seeking 15.6 

billion rubles ($201.3 million) in damages 

over the terminated contract. 

A Russian court agreed to freeze all 

of Volkswagen’s assets in Russia while 

the dispute with GAZ plays out, court 

documents showed, further hitting 

VW’s attempts to wind down its Russian 

operations. 

Czech carmaker Skoda Auto, part of the 

Volkswagen Group, said it was in the final 

stages of a deal to sell its Russian assets. 

Exit plans 

Russia mandates that companies from 

“unfriendly” countries – those which have 

hit Russia with sanctions – are required 

to win approval from a government 

commission for the sale of any Russian 

assets. 

Foreign investors have feared Russia could 

move to nationalize strategic assets since 

the restrictions on sales were brought in. 

Last July President Vladimir Putin issued 

a decree to seize full control of the 

Sakhlain-2 gas and oil project in Russia’s 

far east, effectively taking almost 50% of 

the project from Shell and two Japanese 

trading companies. 

Other leading Western carmakers have 

left the Russian market. Last year France’s 

Renault sold its majority stake in Avtovaz to 

a Russian state entity for a symbolic fee of 

one ruble – effectively writing off assets it 

previously valued at 2.2 billion euros ($2.35 

billion). Russia’s auto industry has been 

one of the worst hit by Moscow’s decision 

to send tens of thousands of troops into 

Ukraine in February last year. 

Previously reliant on Western investment, 

equipment and parts, car production last 

year fell by an unprecedented 67% to its 

lowest level since the collapse of the Soviet 

Union. 


VW issues int’l recall 

of over 270K cars over 

airbag risk 

German auto giant Volkswagen will issue a recall for more than 

270,000 cars due to safety risks in their airbags. 

As the company confirmed, the recall involves a new tranche of 

models in which technology from the Japanese manufacturer 

Takata is installed. 

According to data from Germany’s Federal Motor Transport 

Authority (KBA), no vehicles are currently affected in Germany, but 

some could have entered the country, according to VW. 

The authority cited “faults in the gas generator of the front 

airbags” as the reason. This could lead to “uncontrolled 

deployment and the release of metal fragments that could injure 

the occupants.” 

In the past, there had already been several accidents in various 

countries, some of them serious. 

In the past, recalls were considerably more extensive. In China, 

for example, Volkswagen had to send almost 4.9 million cars to 

the workshops in 2017 because of possibly defective airbags. 

The cause is said to be an inferior propellant that can mistakenly 

trigger the airbag, especially in higher humidity in warm climates. 

“In order to rule out serious safety risks, affected airbags will 

therefore be replaced according to availability,” VW said. 

The current recall concern cars “that were delivered in hot 

countries, for example in South America,” a spokesperson said. 

“However, it cannot be ruled out that individual vehicles have also 

found their way to Germany.” 

According to the KBA, the recall concerns certain versions of the 

VW Golf and Passat, the small car Fox, the pickup Saveiro and the 

Brazilian sedan Voyage from model years 2013 to 2017 


Ford to boost production, add more staff as US sales resume 

As the firm and the automotive industry 

begin to recover from weak U.S. sales in 

2022, Ford will increase the manufacturing 

of six models this year, half of which are 

electric, the company revealed . 

Ford Motor Company intends to increase 

production of the Mustang Mach-E, Bronco 

Sport SUV and Maverick compact pickup, 

F-150 Lightning electric pickup, Transit and 

E-Transit gas and electric full-size vans, and 

all of the aforementioned models. 

The company announced last year that 

it would add a third shift and 1,100 jobs 

to its full-size van plant in Claycomo, 

Missouri, close to Kansas City, as well 

as 3,200 additional jobs related to the 

production of the F-150 Lightning, which is 

made in Dearborn, Michigan, to help with 

production growth. 

According to spokesperson Said Deep, Ford 

will also hire a number of new employees 

this year at the Cuautitlan and Hermosillo, 

Mexico, plants that manufacture the 

Mach-E, Maverick and Bronco Sport. 

More workers will arrive later, he said, and 

production line speeds will soon increase 

to boost output. 

For more than two years, U.S. auto sales 

have been depressed largely due to a 

shortage of computer chips during the 

coronavirus pandemic. But the chip 

shortage is easing and automakers like Ford 

are starting to increase production and 

build supplies on dealer lots. 

Overall in the U.S., auto sales fell almost 

8% last year to just under 14 million, with 

Ford’s dropping just over 2%, according 

to Autodata Corp. But in February, overall 

industry sales rose 9.5% over the same 

month a year ago, according to LMC 

Automotive, which sees sales increasing 

to 15 million this year. Ford sales were up 

almost 22% in February. 

Jeff Schuster, executive vice president 

of automotive at LMC and Global Data, 

declared that the industry was on the 

road to recovery. In order to control its 

full-size pickup truck inventory, crosstown 

rival General Motors will shut down 

manufacturing in Ft. Wayne, Indiana. 

As a battery caught fire during a predelivery 

quality check, Ford stopped 

making the F-150 Lightning in February. 

However, the battery problem has been 

fixed, and production will begin on March 

13 at a rate of 150,000 units annually, said 

Deep. 

By the end of the year, Mach-E production 

will increase to a rate of 210,000 units 

annually, and the business intends to 

increase Bronco Sport and Maverick 

manufacturing by 80,000 units this year. 

Transit and E-Transit production will rise by 

38,000 this year. 


Karsan e-JEST Is The European Leader 

For Three Consequent Years 

Pioneering the electrification of public 

transportation in Europe, Karsan 

differentiates with its successful products. 

Karsan e-JEST, which hit the roads in 2019, 

also became Europe’s best-selling electric 

minibus in 2022, after 2020 and 2021. 

Stating that the market size has nearly 

doubled in a year, Karsan CEO -Okan Baş 

said, “We closed another year as the leader 

in the growing market, when competitors 

started to gain strength. We became the 

leader of the European electric minibus 

market with e-JEST for the third year, too, 

in a row. This is a very significant success 

not only for Karsan but also for the Turkish 

automotive industry.” 

Offering high-tech mobility solutions with 

the vision of being ‘One Step Ahead in the 

Future of Mobility’, Karsan is making an 

impression in Europe as well as in Turkey 

with its electric buses. Karsan, which 

has almost dominated Europe’s electric 

minibus market, is also ambitious in electric 

mobility with its e-JEST model. Karsan 

e-JEST, which Karsan launched in 2019 as its 

first electric model, continues its leadership 

in Europe electric minibus market in 2022 

as well as in 2020 and 2021. 

According to the European Minibus Market 

Report published by Wim Chatrou - CME 

Solutions in 2022 for the minibuses 

between 3.5-8 tons; Karsan e-JEST became 

the leader of the electric minibus market 

with a share of 28% as in the last two 

years. Karsan CEO Okan Baş stating that 

the electric minibus market in Europe grew 

by 84% in 2022 compared to the previous 

year, says “The market volume has almost 

doubled in just one year. We closed 

another year as the leader in the growing 

market, when our competitors started to 

gain strength, and for the third year in a 

row, we became the leader of the European 

electric minibus market with e-JEST. This 

is a very significant success not only for 

Karsan but also for the Turkish automotive 

industry. As a very strong model in markets 

such as France, Romania, Portugal, Bulgaria 

and Spain, Karsan e-JEST draws attention.” 

Emphasizing that every one of four electric 

minibuses sold in the European market is 

Karsan e-JEST, Okan Baş said, “e-JEST that 

we launched at the end of 2018 and put 

into service in 2019, continues to increase 

its success every year. In many European 

countries, people safely travel with e-JEST 

buses. This is also the best indicator of 

Karsan’s experience, advanced R&D and 

qualified employee expertise. In addition 

to e-JEST, our 8-meter-long e-ATAK model 

became the leader of the electric midibus 

segment in Europe for the second time in 

2022. I believe that all Karsan models will 

maintain the same strong success rate in 

2023.” 

Passenger car comfort in public 

transportation! 

Proving itself with high maneuverability 

and unprecedented passenger comfort, 

e-JEST has a BMW electric engine 

producing 170 HP power and 290 Nm 

torque. With its batteries having BMW 

infrastructure, e-JEST offers a range of 

up to 210 kilometers and gives the best 

performance of the 6-meter electric 

minibus class. e-JEST regenerative braking 

system providing energy recovery can 

charge 25% of its batteries. Equipped 

with a fully digital display panel, keyless 

start, USB input and an optional feature 

providing Wi-Fi compatible infrastructure, 

e-JEST is equally good at the comfort of a 

passenger car with its 4-wheel independent 

suspension system. 


Stellantis to sell Türkiye distribution 

business to Tofaş in $425M deal 

One of Türkiye’s most giant conglomerates, 

Koç Holding, and global carmaker Stellantis 

announced they had reached a deal to 

expand their joint venture Tofaş, including 

a change of the ownership structure of 

a local distribution unit.Under a new 

strategic agreement, Tofaş will acquire all 

shares of Stellantis distribution company in 

Türkiye, Stellantis Otomotiv Pazarlama A.Ş., 

the partners said in a statement. The deal 

reportedly amounts to around 400 million 

euros ($425 million). 

As a result, all Stellantis brands in the 

country – Alfa Romeo, Fiat, Citroen, DS 

Automobiles, Jeep, Maserati, Opel, and 

Peugeot – will be distributed by Tofaş, the 

statement noted. Shares of Tofaş jumped 

as much as 9.8%m to a record high of TL 

194. 

“To gather all the activities in Türkiye under 

one single entity ... will not only allow 

unprecedented synergies in commercial 

activities, production, and R&D globally but 

will also pave the way to offering broader 

and more efficient products and services,” 

the statement said. Tofaş is a carmaker 

owned by Koç Holding and Stellantis, which 

was formed in 2021 through the merger 

of France’s PSA and Fiat Chrysler. Koç 

Holding CEO Levent Çakıroğlu said, “We 

are resolved to continue to play our part 

in healing the wounds of Türkiye’s Feb. 6 

earthquake disaster as we try to recover 

from the pain caused by the event. As Koç 

Group, we are committed to investing in 

our country, believing the new agreement 

will help overcome this difficult period. 

“This strategic investment, combined 

with Tofaş’s production volume, export 

performance, and R&D capabilities, is 

taking the company to new heights in the 

automotive industry,” said Koç Holding CEO 

Levent Çakıroğlu. 

“As the leading automotive company in 

Türkiye, Tofaş will further expand its goals 

and strengthen its credentials with this 

new investment,” Çakıroğlu said. “We 

will continue to do our best to increase 

the competitiveness of Türkiye in the 

automotive industry through the added 

value that will be generated.” 

For his part, said Stellantis CEO Carlos 

Tavares said Türkiye “plays a critical role 

in Dare Forward 2030, our long-term 

strategic plan, as we push to achieve a 

leading market share in the Middle East 

and Africa.” 

“Deepening our partnership with Koç will 

produce synergies, increase value, and 

grow the market potential for the array 

of Stellantis brands across all segments,” 

Tavares noted. Meanwhile, Stellantis said 

it would allocate production of a range 

of mid-size light commercial vehicles and 

cars, dubbed “K0,” to Tofas across five 

brands that will start production in 2025. 

The statement said that the Doblo van 

will continue until the start of work on the 

production lines of the “K0” model in July 

of this year. 


Erdoğan inaugurates Türkiye’s 1st boron carbide facility 

President Recep Tayyip Erdoğan 

inaugurated Türkiye’s strategic facility for 

boron processing, the first boron carbide 

plant in the country. 

Addressing the inauguration ceremony, 

Erdoğan said the Bandırma Boron Carbide 

Production Facility, which represents an 

investment of $80 million (TL 1.52 billion) 

is set to become the world’s first facility of 

its kind. 

Boron carbide has various applications, 

such as in armor wear-resistant mechanical 

parts, which are essential to the defense 

industry. These products can be found in a 

wide range of items, from personnel vests 

to sheltered plates, the president said. 

“The Bandırma facility is expected to 

produce around 1,000 tons, providing 

a twofold increase in value. Its opening 

is significant not only for increasing the 

added value of boron mining but also for 


the strategic contribution it will make to 

Türkiye,” he added, highlighting that the 

high technology facility “will enable Türkiye 

to turn its rare earth element, discovered in 

Eskişehir, into profit. 

“The aim is to implement a comprehensive 

system that starts from the raw material 

and extends to the final product, reflecting 

a determination to maximize the potential 

benefits of this investment,” Erdoğan 

added. 

At full capacity, the facility in western 

Balıkesir’s Bandırma will employ 279 

people and produce 1,000 tons of boron 

carbide annually. 

According to the earlier statements made 

by the ministry of energy and natural 

resources, in Türkiye, which has 73% of 

the world’s boron reserves, Eti Maden – a 

state-owned mining and chemical products 

institution that primarily extracts boron 

minerals and derivatives in the country – 

broke a record with a sales revenue of $1.3 

billion last year. 

Speaking previously on Türkiye’s boron 

capacity and the new facility, Energy and 

Natural Resources Minister Fatih Dönmez 

said the country was selling boric acid and 

buying boron carbide before, especially 

those armor-making companies. 

“We have an annual import of 350 tons,” 

he said, adding that the capacity of the 

new facility will open be 1,000 tons. 

“In other words, we will no longer be 

an importer and become an exporter,” 

Dönmez said. Türkiye is also home to the 

world’s highest quality boron mine, which 

has over 200 applications, Dönmez said, 

noting that the global demand for boron 

is massive, with 4 million tons of it being 

used worldwide, and the processed refined 

product’s monetary value is estimated to 

be around $2 billion. 

“The glass industry accounts for half of the 

boron usage, while the agricultural sector’s 

share is rapidly increasing. Last year, the 

agricultural sector’s share rose to 17%, 

a significant improvement compared to 

the past two years, indicating the sector’s 

growing importance in the global boron 

market,” he said. 

Dönmez went on to say that Türkiye 

currently exports one-third of its boron 

sales to China, making it the country’s 

largest boron market. 

Besides the Balıkesir facility, Dönmez noted 

the country is set to open a new boron 

carbide plant with an annual capacity of 

5,000 tons in Kütahya’s Emet. 

“The construction work has begun, and the 

plant is expected to be operational within 

three years,” he said. 

“Additionally, Türkiye’s first ferrobore plant 

was established on the same campus last 

year, with an annual production capacity 

of 800 tons. The plant is expected to be 

operational by the end of this year. In 

another development, a pilot plant for 

rare earth elements will soon be launched 

in Eskişehir’s Beylikova. The region boasts 

the world’s second-largest rare earth 

field, and the pilot plant is expected to be 

operational in April,” Dönmez maintained. 

“These developments are a testament to 

the importance of investing in materials 

science, as technological advancements are 

driven by the materials used. As Türkiye 

continues to develop new materials, it 

will significantly enhance its technology 

capabilities,” he added. 

According to Serkan Keleşer, the general 

manager of Eti Maden, currently, the world 

produces 5.7 million tons of boron, with Eti 

Maden producing 2.7 million tons. 

Additionally, Eti Maden produces and sells 

450,000 tons of boric acid annually. 

Keleşer explained that domestic and 

foreign companies have shown an interest 

in purchasing boron carbide, and Eti Maden 

aims to meet this demand. 


37 2023

Türkiye grants Tesla charging stations 

license as EV race heats up 

Türkiye’s energy watchdog extended the 

U.S.-based electric carmaker Tesla a license 

to operate a charging network in the 

country. 

Tesla is now one of 119 companies to 

operate charging stations and offers 

support to electric vehicle (EV) drivers 

across Türkiye. 

“With charging stations to be installed 

at several locations, including parking 

lots, shopping centers and gas stations by 

licensed operators, electric vehicle owners 

will be able to receive charging services 

and will be able to travel more affordably 

in the face of rising fuel prices,” the Energy 

Market Regulatory Authority (EPDK) said. 

There are 3,728 commercial charging 

stations in Türkiye, including 3,082 slow 

(AC) and 646 fast (DC) charging stations, 

according to the authority. 

Boosted by lower consumer tax rates than 

combustion-engine cars, new electric car 

registrations have surged more than 90% in 

Türkiye since 2021, according to the EPDK 

data. As of December 2022, 14,896 new 

electric vehicles were registered compared 

to 7,694 in the same month of 2021, the 

EPDK data showed. Although it is not 

officially in Türkiye, Tesla, run by billionaire 

Elon Musk, officially started hiring for its 

Istanbul service center in December and is 

reportedly due to launch in the country in 

the near future. 

Musk, in May 2018, said Tesla had planned 

to enter Türkiye later that year, before 

the decision was abandoned after an 

escalating tariff dispute between Ankara 

and Washington. 

The company already planned the 

deployment of Supercharger stations and 

issued a map showing the locations of the 

network. 

Although the share of electric and hybrid 

cars remains at low levels, the growth in 

sales shows a soaring interest of consumers 

in the electrified market. 

The EV competition in Türkiye is due to 

heat up as Togg, the first domestically 

made EV brand, is due to start deliveries as 

of the end of this month. 

Togg began mass production in late 

October and sales of its first model, the 

C-segment SUV, are set to begin this 

month. In what has been seen as a boost to 

the national car project, Türkiye announced 

it would impose an additional 40% customs 

duty on electric vehicles made in China. 

The move came just days after Chinese 

EV giant BYD Co. signed a memorandum 

of understanding (MoU) with Turkish 

distributor ALJ Türkiye to enter the Turkish 

market with its passenger and light 

commercial vehicles. 


Turkish national car Togg receives its 

1st international order 

Türkiye’s domestic automobile Togg’s 

Gemlik factory campus was opened with 

great pride and it has already started to 

attract attention abroad. 

Togg has already received its first order 

from overseas. Azerbaijani President Ilham 

Aliyev personally placed the order with 

President Recep Tayyip Erdoğan in a phone 

call. The president told a live broadcast on 

ATV a Haber that Aliyev wants to buy two 

cars for himself. Meanwhile, reports noted 

that the toy cars that President Erdoğan 

distributes to children as gifts will be in the 

form of Togg cars from now on. 

One of Türkiye’s 2023 vision projects, Togg 

is being greeted with great enthusiasm 

in the country. After President Erdoğan 

pointed to February for the pre-sale of 

the car, advertisements with the headline 

“For sale to buy a Togg” began to appear 

on second-hand sales platforms. Citizens 

have already put their existing vehicles on 

sale on the internet in order to buy a Togg, 

which will hit the road in March 2023. 

Minister of Treasury and Finance Nureddin 

Nebati said he gave instructions to ensure 

the accessibility of Togg for the wider 

population. “Our ministry has already 

started its work. We spoke to public banks. 

Ziraat Bank, Halk Bank and Vakıfbank and 

our participation banks will provide the 

necessary support at the point of access to 

these vehicles,” he said. The new models, 

the C-Sedan and C-X Coupé, unveiled by 

Togg on its Twitter account, Türkiye, Nov. 2, 

2022. (Courtesy of Togg) 

In a post by Togg on its Twitter account, 

“While we unloaded our first smart device, 

the C-SUV, we wanted to introduce you to 

the C-Sedan and C-X Coupé, whose work 

continues in line with our plans.” the post 

read. 


EU reaches deal to reduce energy 

consumption at bloc level 

The European Union struck a deal to cut 

final energy consumption across the bloc 

by 11.7% by 2030, a goal lawmakers said 

would help fight climate change and curb 

Europe’s use of Russian fossil fuels. 

The deal was agreed upon after allnight 

talks between negotiators from EU 

countries and the European Parliament. 

Hitting the targets will require countries 

to renovate millions of draughty buildings 

to waste less energy. Constructing and 

using buildings produces a third of EU 

greenhouse gas emissions, and with most 

European buildings heated by fossil fuels, 

the goal is crucial to the EU’s efforts to 

combat climate change. 

“This will mean real change for the benefit 

of the climate and disadvantage of Putin,” 

said Niels Fuglsang, Parliament’s lead 

negotiator. 

Negotiators agreed that energy consumed 

by end-users in the bloc such as 

households and factories in 2030 should 

be 11.7% lower than expected use by 

that date. The EU had initially proposed 

in 2021 that the target be a 9% saving but 

hiked that to 13% last May in a bid to quit 

Russian fuels faster after Russia, previously 

Europe’s top gas supplier, invaded Ukraine. 

The 11.7% goal was a compromise between 

the EU Parliament, which had wanted a far 

higher goal of 14%, and some EU countries 

who wanted to stick to the original 9% aim. 

The target will be legally binding. Countries 

will set their own non-binding national 

goals – but if they do not add up to the 

11.7% goal, the European Commission will 

correct them. From 2024 to 2030, countries 

will have to save an average of 1.49% of 

final energy consumption per year. 

Countries will have to speed up their 

renovations of public buildings, renovating 

at least 3% of the total floor area of 

publicly-owned buildings each year. 

The deal will now go to the European 

Parliament and EU countries for a final vote 

– which is usually a formality that approves 

the law with no changes. 


Berlin fair marks 

tourism’s return, 

defying inflation 

The Berlin tourism industry fair celebrated 

its comeback from the dark days of the 

coronavirus pandemic with a strong 

demand that has so far defied high inflation 

figures. 

The industry gathering returned after 

a three-year hiatus enforced by the 

pandemic crisis, with 5,500 exhibitors from 

161 countries descending on the German 

capital. 

“Travel is back!” Julia Simpson, the head of 

the World Travel and Tourism Council said 

during the fair. 

In 2022, the World Tourism Organisation 

(UNWTO) registered an increase in 

international arrivals of almost 900 million 

compared with the previous year. 

In total, arrivals stood at 67 percent of 

their pre-pandemic level, with the figure 

reaching as high as 80 percent in Europe. 

“We are already at a similar level to 2019” 

in some countries, said UNWTO Europe 

director Alessandra Priante. 

Savings power 

“The savings made by a whole section 

of the population during the pandemic 

lockdowns have yet to be fully spent and 

are flowing into the sector,” said Clemens 

Fuest, head of the economic think tank Ifo 

Institute. 

China’s abandonment at the end of last 

year of its zero-COVID-19 policy, which 

strictly regulated travel in and out of the 

country, has been another boon. 

Before the pandemic, Chinese travelers 

represented 15% of all tourists. 

The atmosphere at the fair was celebratory 

with delegates from central Asia and Pacific 

islands parading through the aisles in 

traditional garb to promote their region. 

“Our clients have all come back,” Lukas 

Knauber, 23, a German spa hotel worker, 

told Agence France-Presse (AFP). 

The upturn in fortunes has continued 

despite painfully high inflation in many 

parts of the world. Consumer prices in the 

eurozone rose at an 8.5% pace in February 

and look set to remain elevated. 

But the positive trend may not carry 

forward very far. 

“In 2023, many consumers were able to 

say I’m going even if I have lost spending 

power. But in 2024 that will probably not 

be the case,” said Fuest. 

Consumer behavior is already changing 

because of inflation. In Germany, more and 

more holidaymakers are “booking early in 

the year to benefit from discounts”, the 

German tourism industry group DRV said in 

early March. 

One in two clients at travel giant Tui is 

choosing the all-inclusive option, in order 

to have a better grip on their expenditure, 

according to Stefan Baumert, the group’s 

lead for Germany. 

In the cruise industry, “55% of customers 

say they want to spend less money or travel 

less far,” according to Markus Stumpe, CEO 

of the website Cruisewatch. 

Climate concern 

“The sector will have to adapt its offers and 

prices to this new context,” Fuest said. 

At the fair in Berlin, the startup Room Price 

Genius is showing software that allows 

small hotels to estimate the ideal price for 

a room. 

Not just consumers, but the sector itself 

is reeling from rising costs, especially for 

energy. 

To limit the sector’s impact on the 

environment, people will also have 

to “pay more”, according to Soeren 

Hartmann, head of the German federal 

tourism organization BTW. Rising global 

temperatures are having a major impact on 

much-loved holiday destinations as winter 

snows fail to materialize and summer heat 

waves become more frequent. 

According to a study published in 

the scientific journal Nature, tourism 

represented eight percent of global 

emissions in 2018. 

“The climate transition is the biggest 

challenge facing tourism,” Katharina 

Schlossar, 22, a hotel worker in Bavaria told 

AFP. 


Türkiye to boast 

10,000 charging 

stations as EVs 

go mainstream 

The number of charging stations for electric 

vehicles (EV) across Türkiye could reach 

as much as 10,000 by the end of 2023, 

according to an industry official, primarily 

driven by the unprecedented demand for 

the first homegrown car that is due to start 

deliveries. 

The tendency toward greater adoption of 

battery-powered cars has been gaining 

major pace, a trend that has been further 

reaffirmed by the fact that over 100,000 

preorders were submitted for the first 

indigenous EV brand Togg in the first week 

since it launched the process on March 16. 

The preorders reached 177,467, the 

carmaker announced. 

The demand made the brand raise the 

number of units of its EV model named 

T10X that it will start delivering as of April 

to 20,000, up from the initially planned 

12,000. Buyers of these will be selected 

through a digital draw that is scheduled. 

The demand has provided a clear hint for 

the infrastructure, the head of the Electric 

and Hybrid Vehicles Association of Türkiye 

(TEHAD) Berkan Bayram said. 

“We need a lot more charging stations, 

considering that the demand received by 


Togg in the preorder reached 100,000 in a 

week,” Bayram added. 

“I predict that our total charging network 

will reach 10,000 by the end of the year.” 

Besides the infrastructure that has already 

been set up by private sector operators or 

is planned for the upcoming period, Togg 

has been establishing a charging station 

network across Türkiye under a brand 

named Trugo. 

Over 1,000 stations that will feature 

charging capacities of between 180 

kilowatts (kW) and 300 kW were aimed 

to be rolled out at over 600 spots in 81 

provinces. Trugo charging stations of 

Türkiye’s first domestic car brand Togg are 

installed in Bolu, northwestern Türkiye, 

Oct. 1, 2022. (AA Photo) 

Ever-growing interest and investments have 

helped Türkiye reach a level where it boasts 

a network of as much as 6,500 charging 

stations, said Bayram. 

“We cannot say that this number is 

enough,” he stressed. “The charging 

network has increased and the demand for 

electric vehicles is high.” 

Bayram informed that 122 companies have 

been granted EV charging station operator 

licenses, compared to just five before 2020. 

“We are seeing continuous technological 

progress in the rechargeable battery sector 

because, in the long term, the goal of all 

countries worldwide is to switch from fossil 

fuel vehicles to new-generation electric 

vehicles that are emission-free and do 

not pollute the air and our living spaces,” 

Bayram added. 

With mass production already begun in late 

October, Togg said its fully electric T10X 

would be initially sold with one engine and 

two battery options. 

The model will feature a range of 314 

or 523 kilometers (195 or 325 miles), 

depending on the battery size. The first 

version of the T10X is able to accelerate 

from zero to 100 kph (62.14 mph) in 7.6 

seconds, while the second, for which 

delivery will start on Oct. 29, can do zero- 

100 kph in 4.8 seconds. 

The second version also sports an allwheel 

drive, featuring 320 kW power (435 

horsepower). 

The vehicle is being manufactured by a 

consortium of five Turkish companies called 

the Automobile Initiative Group of Türkiye, 

or Togg, in cooperation with the Union of 

Chambers and Commodity Exchanges of 

Türkiye (TOBB). 

The consortium inked a deal with Farasis, 

one of the world’s most prominent 

companies, to build a lithium-ion battery 

factory near Togg’s production site in 

northwestern Bursa province. 

Bayram said that in the transition from 

lead-acid to next-generation battery 

technology, lithium-based batteries are the 

most preferred type by EV manufacturers. 

The batteries of the Togg T10X can be 

recharged to up to 80% from 20% in less 

than 28 minutes at fast-charging stations. 

“The most important advantages of a 

lithium-based battery are that it has the 

highest cell voltage per unit cell, the 

highest energy density per unit mass, no 

memory effect, high cycle life, is physically 

more durable, has the highest charging 

efficiency and requires less maintenance,” 

said Bayram. 

He said Togg’s first model would feature 

two battery packs with capacities of 52.4 

and 88.5 kilowatt-hours, boasting ranges of 

314 and 523 kilometers, respectively. 

“It is important to note that these ranges 

may vary depending on weather and how 

the car is used. The long-range version of 

the Togg has been said to be the first to hit 

the road,” Bayram added. 

Calling itself a technology brand that blends 

digital and physical experiences, Togg has 

joined hands with multiple startups to 

produce a new mobility ecosystem. Besides 

the SUV, Togg will manufacture another 

four models – a sedan, C-hatchback, B-SUV 

and B-MPV – through the year 2030. The 

sedan will follow the mass production of 

the SUV. 

The carmaker earlier said it aimed to 

produce up to 20,000 cars this year. 

Although it marks a low level compared 

to global standards, Togg achieving this 

output level will see it more than doubling 

Türkiye’s electric car fleet within a year. 

The current production capacity stands at 

around 100,000 vehicles per year, a figure 

that is expected to reach 175,000 once 

Togg’s factory reaches full capacity. 

The brand aims to produce 1 million 

vehicles across the five segments by 2030. 

EV sales in Türkiye jumped 172% yearover-year 

in 2022 to 7,300 units, according 

to industry data. However, their share 

remained under 1% within the total vehicle 

market, which stood at around 783,000 

units last year. 

The total number of electric cars increased 

almost twofold last year but stayed at 

around 15,000 units. 



Tesla taps Asian partners to 

address 4680 battery concerns 

It’s crunch time at Tesla Inc., where Elon 

Musk is looking to crack the code for 

making better, cheaper batteries. 

The electric-vehicle maker is recruiting 

Chinese and Korean materials suppliers to 

help lower the cost and boost the energy 

of its newest battery cells, even as the 

company struggles with battery-related 

performance and production issues 

that have helped delay the launch of its 

futuristic Cybertruck, according to people 

familiar with the plans. Tesla has tapped 

China’s Ningbo Ronbay New Energy and 

Suzhou Dongshan Precision Manufacturing 

to help trim materials costs as it ramps 

up production of 4680 battery cells in the 

United States, according to the sources, 

who asked not to be named. 

The details of these arrangements have not 

previously been reported. 

If the Austin, Texas-based EV maker is able 

to work out the performance and process 

kinks and meet its ambitious production 

targets, the 4680 ultimately could be the 

linchpin - rather than choke point – in 

CEO Musk’s dream of building 20 million 

vehicles annually by 2030. 

Neither Tesla nor Musk could be reached 

for comment. As part of its efforts, Tesla 

also has signed a deal with Korea’s L&F Co 

to supply high-nickel cathodes that could 

increase the energy density of its 4680 

cells, one of the sources said. 


The automaker aims to augment its own 

output with 4680 cells from Korea’s LG 

Energy Solution and Japan’s Panasonic – 

an insurance policy to secure future EV 

production, two of the sources said. LG and 

Panasonic are expected to supply cells for 

Cybertruck, one of the sources said. 

A shortage of batteries means “the factories 

stall,” Musk told investors in early March. 

The new battery is expected to play a key 

role in the launch late this year of the edgy, 

stainless-steel Cybertruck, the company’s 

first new model in over three years. Tesla 

had considered three battery options 

to ensure that the launch is not delayed 

again: Smaller 2170 cells used widely in 

other Tesla models, 4680 cells and lessexpensive 

lithium iron phosphate cells, 

but the EV maker favored waiting until 

the 4680 cells are ready, the sources said. 

Details about Tesla’s Cybertruck battery 

strategy, including the use of 4680 cells and 

consideration of other options, have not 

been reported. 

In 2022, Musk said he did not expect 4680 

batteries would be a “limiting factor for 

Cybertruck or anything else.” 

The Tesla-designed 4680 cell – so named for 

its external dimensions (46mm diameter, 

80mm length) – is crucial to future 

production plans. Tesla intends to make 

versions at factories in Texas, California, 

Nevada and Berlin for use in vehicles from 

Model Y to Cybertruck, the sources said. 

But Tesla is still struggling to ramp up 

the first wave of production, Musk 

acknowledged at Tesla’s investor day on 

March 1. 

‘Tesla impact underestimated’ 

Despite the immediate problems, some 

analysts remain optimistic Tesla will resolve 

these issues. 

“While execution risk remains and many 

details are unknown, Tesla’s impact on 

the global battery industry may still be 

underestimated,” Morgan Stanley said after 

investor day. 

Musk first announced the new cell at 

Battery Day in September 2020. At that 

event, he promised a 50% reduction in cell 

cost through a series of innovations, from 

a larger cell size to a new “dry” electrode 

coating process that could dramatically 

reduce the size and cost of a battery factory 

while boosting cell performance. 

Repeated delays in moving the new cell 

from the initial prototype phase to fullscale 

production also have pushed back 

the introduction of the long-awaited 

Cybertruck, which was designed to 

take advantage of the cell’s potential 

improvement in energy density and power 

– advances that have yet to materialize. 

But it will take time for suppliers to ramp 

up production. 

Panasonic is running a pilot 4680 

production line at its Wakayama factory 

in Japan and plans to start volume 

production later in the fiscal year that 

ends in March 2024. Shoichiro Watanabe, 

chief technology officer of Panasonic 

Energy, last month said the company’s new 

Kansas battery plant will focus initially on 

2170 cells, but it will eventually shift 4680 

productions to North America. 

Last year, LG said it planned to open a new 

4680 production line at its Ochang plant in 

Korea in the second half of 2023. 

Tesla’s first-generation 4680 cells, built at 

its Fremont, California, factory, failed to hit 

an energy density target, people involved 

say. 

The automaker so far has been able to drycoat 

the anode – the negative electrode 

but is still having issues with dry-coating 

the cathode, where the most significant 

gains are expected to be made, the sources 

said. 

Tesla’s attempt to ramp up production of 

the dry coating process has resulted in 

enough batteries only for about 50,000 

vehicles annually, Musk and company 

executives have said. 

In 2020, Musk said Tesla would have 

enough 4680 capacity in-house to supply 

1.3 million Model Ys. 

While executives said it seems likely Tesla 

will be able to increase 4680 output fivefold 

by year-end, the company is hedging. 

Musk is betting if Tesla ends up with too 

many batteries this year that is a good 

problem to have. It can use those for the 

energy storage systems it sells to utilities 

and consumers. 

Tesla also has been installing firstgeneration 

4680 cells with “wet” cathodes 

in so-called structural packs in Texas-built 

Model Ys. A majority of those vehicles use 

the older 2170 cells. 

Tesla plans to use a cathode with over 

90% nickel in the next generation of 4680 

cells, two sources said. L&F is expected to 

be one of the suppliers of that high-nickel 

cathode, another source said. 



Otokar expands presence in UAE, Gulf 

Turkish defense giant Otokar, which exports 

its vehicles to over 40 countries, is set to 

expand its presence in the United Arab 

Emirates (UAE) with new versions of its 

Rabdan 8x8 vehicles. These vehicles serve 

as a key component for ground troops. 

Otokar is showcasing six vehicles, including 

the Akrep II Armored Reconnaissance, 

Surveillance and Weapon Platform Vehicle 

Cockerill CSE 90LP with a 90-millimeter 

turret, the Arma 8x8 Armored Combat 

Vehicle with a 30-millimeter Spear turret 

system, and the Tulpar Tracked Armored 

Combat Vehicle with a 30-millimeter Spear 

turret, at the IDEX International Defense 

Industry Fair held in Abu Dhabi, the capital 

of the UAE. 

With these new offerings, Otokar is 

positioning itself to play an even greater 

role in the UAE’s defense industry. 

At the Otokar booth, visitors were offered 

a close-up look at a range of vehicles, 

including the Cobra II Armored Personnel 

Carrier, Cobra II MRAP Mine-Proof Armored 

Vehicle, and Arma 6x6 Armored Personnel 

Carrier. Speaking to Anadolu Agency 

(AA), Otokar General Manager Serdar 

Görgüç noted that the company had been 

exhibiting at the fair since the late 1990s 

and was among the first participants 

this year. He added that Otokar’s Cobra 

vehicles were particularly popular in 

the region and that the company was 

currently pursuing major projects in the 

area. Görgüç highlighted the significance 

of the IDEX, stating that it is among the 

most important defense events worldwide. 

According to Görgüç, IDEX brings together 

delegations from various regions, including 

Far and Central Asia, Africa, Europe and 

South America, producing a productive 

environment for international users to 

discuss potential projects and purchases. 

Görgüç also noted that Otokar had a 

subsidiary called Otokar Land Systems 

in the UAE and operated in the country 

through Al Jasoor company. He explained 

that Al Jasoor had delivered an 8x8 

vehicle project in four years, and that the 

first phase had been completed in the 

previous year. Being in the UAE allowed the 

company to engage with users and discuss 

potential variants, applications and other 

needs related to their existing 8x8 project. 

According to Görgüç, the 8x8 vehicle 

project for the UAE was not only significant 

within the country and Türkiye, but also 

on an international level. With a total of 

400 vehicles, this was a major project, 

and Otokar was successful in winning the 

contract in 2017, he said. 

As the user gained confidence in the 

vehicle’s performance, Otokar began 

exploring different uses and variants 

to meet various needs. Currently, the 

company is in contact with the user 

through Al Jasoor, as they discuss the tools 

needed for a battalion-level organization. 

During this stage of the project, Otokar 

is working to incorporate technological 

innovations and changes into the vehicles. 

Looking ahead, Görgüç expressed hope 

that there would be further projects 

related to Rabdan vehicles. 

Accordingly, Görgüç stated that they aim 

to bring the 8x8 ambulance vehicle they 

exhibited at the fair to the country, and 

stated that the ambulance version of the 

Rabdan vehicle was tested by the medical 

units in the UAE and was successful. 

Otokar Land Systems is currently operating 

in Bahrain and Kuwait, providing Arma, 

Ural, Cobra and Cobra 2 vehicles for 

four different forces in Bahrain and two 

different users in Kuwait, Görgüç went 

on to say. In addition to supplying these 

vehicles, Otokar has also established 

maintenance facilities in both countries, 

and negotiations are ongoing for new 

products to meet emerging needs. 

Görgüç emphasized that Otokar Land 

Systems is closely monitoring the needs 

of all Gulf countries, and is committed 

to providing high-quality products and 

services to meet those needs. 

With 78% of its 2022 turnover coming from 

exports, Otokar is focused on diversifying 

its offerings beyond exports to include a 

wider range of products and expand to new 

markets worldwide, he said. 

“At present, one of Otokar’s key goals is 

to add at least one, and ideally two, new 

countries to its user base every year. To 

achieve this goal, the entire Otokar team 

is working hard to identify emerging 

market trends and develop innovative new 

products that meet the evolving needs of 

customers worldwide.” 


Turkish central 

bank cuts 

rate to 8.5%, 

monitors quake’s 

economic effect 

The Central Bank of the Republic of Türkiye 

(CBRT) slashed its benchmark policy rate by 

50 basis points after keeping it unchanged 

for two consecutive months. 

The central bank lowered its one-week 

repo rate to 8.5% from 9%. 

The decision was made at the year’s 

second Monetary Policy Committee (MPC) 

meeting. 

“The committee assessed that the current 

monetary policy stance after the measured 

reduction is adequate to support the 

necessary recovery in the aftermath of the 

earthquake by maintaining price stability 

and financial stability,” the bank said in 

a statement, referring to two powerful 

earthquakes that struck 11 provinces 

in southern Türkiye on Feb. 6, causing 

extensive damage and killing and injuring 

tens of thousands. 

Over the last year, the bank gradually 

lowered the interest rate from 14% to 9% 

and then at its last two monetary policy 

meetings kept the rate steady. 

The median forecast by economists 

surveyed by Anadolu Agency (AA) was 

a decrease in the one-week repo rate 

of 100 basis points, for example, a total 

percentage point. 

While 10 economists forecast, the bank 

will cut rates by 100 basis points, one 

expected a 150-basis-point decrease, and 

six projected no change. 

The bank statement noted that while 

economic activity data exceeded 

expectations, concerns about a recession 

in developed countries persisted due to 

the impact of geopolitical risks and interest 

rate hikes. Although supply constraints 

in some sectors, particularly basic food, 

have decreased due to Türkiye’s strategic 

solution tools, the impact of high global 

inflation on inflation expectations and 

international financial markets is being 

closely monitored, it said. 

Pointing out that the efforts to find 

solutions with new supportive applications 

and tools developed by the central 

banks for the increasing uncertainties 

in the financial markets continue, the 

committee said, “Financial markets reflect 

the expectations that the central banks, 

which raise interest rates against recession 

risks, will soon end their interest rate hike 

cycles.” 

It stated that while the earthquake will 

have a near-term impact on the economy, 

it is not expected to have a lasting effect. 

The statement highlighted that prior to 

the disaster, leading indicators pointed 

to a lively domestic demand, which was 

expected to result in increased growth in 

the first quarter of 2023. The earthquake’s 

effects on production, consumption, 

employment, and expectations were 

comprehensively evaluated. 

It also noted that sustainable components 

in the growth composition are increasing, 

and tourism continues to make a strong 

contribution to the current account 

balance, exceeding expectations. However, 

risks to the current account balance 

remain due to high energy prices, weak 

economic activity in major export markets, 

and domestic consumption demand. 

Officials emphasized that it is important 

for price stability to maintain a sustainable 

balance of money, closely monitoring 

the growth rate of loans and the use of 

financing resources in line with economic 

activity. 

As stated in the Monetary Policy and 

Liraization of 2023, the committee 

has implemented tools to support the 

effectiveness of the monetary transmission 

mechanism and will continue to use them 

with determination. The entire policy 

toolkit, especially funding channels, will be 

aligned with liraization targets to produce 

suitable financial conditions for sustainable 

growth. 

The statement emphasized that the level 

and trend of inflation have improved 

with the implementation of integrated 

policies, and the effects of supply-demand 

imbalances caused by the earthquake on 

inflation are being closely monitored. 

According to the latest data from the 

Turkish Statistical Institute (TurkStat), 

Türkiye’s annual consumer inflation fell to 

57.68% in January, an 11-month low. 

The MPC emphasized that financial 

support is crucial for maintaining 

acceleration in industrial production and 

increasing employment trends. 


London concours 

2023 to feature 

spectacular 

Porsche RS 

Celebration 

The London Concours, presented by 

Montres Breguet, has announced the 

first exciting feature of what is set to be 

another stand out show in 2023. June’s 

event – firmly established as the capital’s 

leading summer automotive garden party 

- will pay homage to one of the most 

iconic performance models of all time, the 

Porsche 911 RS. 

Building on the great success of previous 

Supercar Thursday celebrations, in 2023, 

for one day only – Wednesday 7th June 

- 50 landmark cars from this most feted 

and thrilling of model ranges will be on 

display in the secluded Honourable Artillery 

Company grounds. Models on show will 

range from the seminal 2.7 RS right up to 

the very latest, technologically advanced 

examples. 

The London Concours’ special celebration 

of all things ‘Rennsport’ - German for ‘Race 

Sport’- will savour these carefully honed 

models, which, over the past half century, 

have continuously pushed the envelope 

of performance and driver involvement, 

all while remaining enticingly useable. The 

unique display will be at the centre of this 

summer’s event, which will run from the 

6th to 8th June, bringing the very finest 

cars to the heart of the City for London’s 

ultimate automotive garden party. 

The display will feature cars such as the 

first model to wear the now famous RS 

badge: the 2.7 RS. Launched in 1972 to 

homologate the Carrera RSR racer, the 

2.7 RS was significantly lighter than the 

standard car. Thanks to featherweight 

body panels and a stripped-out interior 

giving the 2.7 RS had a kerbweight of just 

960kg in ultra-focused ‘sport’ guise. With 

a 210bhp flat-six motor, performance was 

superb for the period, with 0-60 dispatched 

in 5.8 seconds, and a top speed of 152mph. 

Handling at high speed was improved 

through the addition of the now iconic 

‘ducktail’ spoiler, which boosted stability 

whilst also reducing drag. With just 1580 

produced, the 2.7 RS ranks as one of the 

most sought-after drivers’ cars of all. 

A year later the 3.0 RS arrived to 

homologate an evolved RSR racer for the 

’74 season. The 3.0-litre was more extreme 

than the 2.7 RS, designed to be just as at 

home on a circuit or tarmac rally stage as 

it was on the street. While the 2.7 was 

stripped out, the 3.0 RS was lighter still, 

thanks to the extensive use of fiberglass 

and thinner gauge steel for the body. It 

tipped the scales at just 900kg. With some 

230bhp on tap, it could hit 60 mph from 

rest in 5 seconds flat. The 3.0 RS was a 

high-performance, visceral road car that 

was also highly competitive on track. These 

attributes coupled with its extraordinary 

scarcity – just 56 were built – have seen 

it take on legendary status in the ensuing 

decades. The holy grail for Porsche 

collectors. 

Another highly-sought after RS variant 

is the 993 RS – the last of the air-cooled 

models, which was introduced in 1995. 

Weight saving and purity of driving 

experience were again at the top of the 

agenda. The 993 RS variant had lighter 

body panels and thinner glass, while also 

ditching the standard 993’s central locking, 

radio as well as electric seats, mirrors and 

windows. The extensive diet resulted in 

a weight of just 1280kg, with handling 

further enhanced by a limited-slip diff and 

fully adjustable suspension. The package 

was rounded off with a 300bhp 3.8-litre 

motor, featuring forged pistons. A serious, 

hugely desirable drivers’ car and a fitting 

swansong for air-cooled RS models. 

Another high-water mark for Porsche 

RS was the ultimate incarnation of the 

997 GT3 RS: the hallowed 4.0-litre car. 

Produced between 2011 and 2012, it was a 

special machine, combining the beautifully 

balanced, communicative handling of the 

’normal’ 3.8-litre car with a sensational, 

motorsport derived larger capacity motor. 

The 4.0-litre unit produced a remarkable 

493bhp, well over the magic 100bhp per 

litre threshold, and revved all the way to 

8500rpm, producing perhaps the finest 

flat-six howl in the process. Extensive use 

of carbon for the body kept weight down 

to 1360kg, enabling the limited run - just 

600 were made - 6-speed manual equipped 

machine to hit 60 mph in 3.8 seconds, and 

193 mph flat out. Many rank the 4.0 RS 

among the finest Porsches, and indeed the 

finest performance cars, of all. 

Porsche continues to push performance 

boundaries with its RS products; the 

latest ‘992’ GT3 RS is the most extreme 

yet. It sports outrageous aero elements 

– including active front and rear wings 

(with DRS function) – generating 860kg of 

downforce at 285 kph, three times that 

of a standard GT3. The 4.0-litre flat-six 

powered 518bhp machine is so extreme 

that it forgoes luggage space entirely – the 

front boot is filled with motorsport derived 

cooling systems. All the details add up to 

give startling performance; a completely 

stock RS lapped the fearsome Nürburgring 

in just 6:49.3. 


China handed 

$240B bailout 

loans to ‘Belt and 

Road’ countries 

China has provided $240 billion in bailout 

loans to 22 developing nations between 

2008 and 2021, soaring in recent years 

as more have struggled to repay loans 

spent building “Belt and Road” (BRI) 

infrastructure, a study published showed. 

Almost 80% of the lending was made 

between 2016 and 2021, mainly to middleincome 

countries, Argentina, Mongolia, 

Pakistan and Türkiye, according to the 

report by researchers from the World Bank, 

Harvard Kennedy School, AidData and the 

Kiel Institute for the World Economy. 

Around the world, BRI nations have come 

under strain as soaring inflation and 

interest rates, compounded by the lingering 

impact of the COVID-19 pandemic, have 

hurt their ability to repay debts. 

The report said the bailouts allow the 

countries to extend their loans and remain 

solvent. 

China says over 150 countries have signed 

up to the BRI, a trillion-dollar global 

infrastructure push unveiled by President Xi 

Jinping a decade ago. 

Beijing says the initiative aims to deepen 

friendly trade relations with other nations, 

particularly in the developing world. 

But critics have long accused China of 

luring lower-income countries into debt 

traps by offering huge, unaffordable loans. 

“China has developed a system of ‘Bailouts 

on the Belt and Road’ that help recipient 

countries to avoid default, and continue 

servicing their BRI debts, at least in the 

short run,” the report said. 

China has lent hundreds of billions of 

dollars to build infrastructure in developing 

countries. Still, lending has tailed off since 

2016 as many projects have failed to pay 

the expected financial dividends. 

“Beijing is ultimately trying to rescue its 

own banks. That’s why it has gotten into 

the risky business of international bailout 

lending,” said Carmen Reinhart, a former 

World Bank chief economist and one of the 

study’s authors. 

The study found that Chinese loans to 

countries in debt distress soared from less 

than 5% of its overseas lending portfolio in 

2010 to 60% in 2022. 

Argentina received the most, with $111.8 

billion, followed by Pakistan with $48.5 

billion and Egypt with $15.6 billion. Nine 

countries received less than $1 billion. 

The People’s Bank of China’s (PBOC) swap 

lines accounted for $170 billion of the 

financing, including in Suriname, Sri Lanka 

and Egypt. Bridge loans or balance of 

payments support by Chinese state-owned 

banks and companies was $70 billion. 

Rollovers of both kinds of loans were $140 

billion. 

The study was critical of some central 

banks potentially using the PBOC swap 

lines to pump up their foreign exchange 

reserve figures artificially. 

The report warned that Chinese loans tend 

to be more opaque compared with other 

international lenders of last resort – and 

often come at an average interest rate of 

5%, compared with a typical 2% rate on an 

International Monetary Fund (IMF) loan. 

Many such agreements were so-called 

“rollovers,” in which the same short-term 

loans are repeatedly extended to refinance 

debts about to come due. 

China’s rescue lending is “opaque and 

uncoordinated,” said Brad Parks, one of the 

report’s authors and director of AidData, 

a research lab at The College of William & 

Mary in the United States. 

China’s government hit back at the 

criticism, accusing “some people” of 

“hyping up so-called Chinese ‘debt traps’ 

and opaque loans, and slinging mud at 

China, something we do not accept.” 

“China ... has never forced any party to 

borrow money, has never forced any 

country to pay, will not attach any political 

conditions to loan agreements, and does 

not seek any political self-interest,” foreign 

ministry spokesperson Mao Ning said at a 

regular press briefing. 

This month, China agreed to restructure its 

loans to Sri Lanka, clearing the way for an 

IMF bailout of the island nation that lists 

Beijing as its biggest bilateral creditor. 

The bailout loans are mainly concentrated 

in middle-income countries that make up 

four-fifths of their lending because of the 

risk they pose to Chinese banks’ balance 

sheets. In contrast, the report said that 

low-income countries are offered grace 

periods and maturity extensions. 

China is negotiating debt restructurings 

with countries including Zambia, Ghana 

and Sri Lanka and has been criticized for 

holding up the processes. It has also called 

on the World Bank and International 

Monetary Fund (IMF) to offer debt relief. 


First year of production for Wiesmann 

‘Project Thunderball’ sold out 

The entire first year of production of the 

Wiesmann ‘Project Thunderball’ – the 

world’s first all-electric luxury roadster – 

has already sold out. Since the order book 

opened in September last year, demand 

from customers worldwide has been 

exceptional, with the two-seater now 

allocated for the first year of production. 

Production will commence in 2024 

at Wiesmann’s ‘Gecko’ facility in 

Dülmen, Germany, where cutting-edge 

manufacturing technology and skilled 

craftsmanship come together to deliver 

the brand’s unique blend of precision 

engineering and bespoke coachbuilding 

expertise. First customer deliveries will 

begin in 2024. 

“We are all extremely proud that Project 

Thunderball – the car which heralds the 

return of the storied Wiesmann brand – 

should resonate so strongly with driving 

enthusiasts from around the world. We 

knew that combining the timeless design, 

luxury, and hand-crafted finish that 

Wiesmann is renowned for, together with 

a state-of-the-art electric powertrain that 

delivers exceptional performance, range 

and charging and our own technology, 

including the innovative regenerative 

braking system, would result in a truly 

captivating and iconic car. To have already 

sold out the first year of production proves 

the unique appeal of Project Thunderball 

and represents a phenomenal start to a 

Wiesmann’s new, electrified era,” said 

Roheen Berry, Owner and CEO, Wiesmann. 

Revealed in April 2022, the Wiesmann 

Project Thunderball is the world’s first 

all-electric luxury roadster. Featuring a 

classic two-seat, rear-wheel drive layout 

and lightweight carbon fibre construction, 

this is a car that delivers the performance, 

responsiveness, and engagement that 

enthusiasts demand. 

The German-engineered roadster’s 

dynamics are aided by packaging the two 

electric motors in a rear-mid mounted 

position, which have a targeted total 

output of 500kW (680hp) and 1,100 Nm 

of instant torque to deliver a targeted 

0-62mph (0-100km/h) acceleration time of 

just 2.9 seconds. 

Powering the motors is a state-of-theart, 

800-volt, 92kWh lithium-ion battery 

pack. This enables an exceptional targeted 

range of 500km (WLTP), along with the 

convenience of super-fast charging of up to 

300kW (DC). 


Tevva hydrogen-electric truck clocks up 

350 miles in wintry range test 

While Tevva’s laser-guided focus remains 

trained on building and delivering its 

battery-electric 7.5t vehicle, testing and 

development of its hydrogen-electric 

counterpart continues apace. 

Four Tevva engineers: Charlie Cordell, 

Byron Dolman, Ryan Clark and Toby 

Hurst were doing exactly that recently, 

with a ‘range test’ of Tevva’s dual-energy 

prototype truck. The exercise saw the 

foursome accumulate more than 1,000km 

(approximately 620 miles) in the 7.5t 

hydrogen-electric vehicle, driving between 

Tevva’s London HQ and the Scottish border 

at Berwick-on-Tweed - England’s most 

northernmost town. 

The return journey saw the truck cover 

almost 350 miles alone, without needing a 

single stop for recharging. This was made 

possible by the truck’s hydrogen fuel cell 

which tops up the range-extended (Rex) 

vehicle’s lithium battery when needed. 

Lead Engineer, Tevva Rex, Charlie Cordell 

said: “It was an amazing trip and we were 

so pleased the truck covered so many miles 

on the return leg, without the need to stop 

for a charge. 

“The trip was a terrific demonstration of 

the range you can achieve in a truck that 

uses a blended system of electric and 

hydrogen. The freezing conditions were 

extremely challenging, but helpful too, in 

allowing us to gather important data about 

vehicle performance, meaning we could 

make tweaks here and there and tailor its 

development.” 

Temperatures rarely climbed above 

freezing during the trip, and at one point it 

dropped to minus 10. 

The Tevva engineers stopped off for 

hydrogen refuelling at Element 2 in 

Teesside on the first leg of the journey, 

as well as an earlier stop in the midlands. 

Element 2 is currently building a national 

infrastructure of hydrogen refuelling sites. 

Impressions from the road 

The company’s Chief Development Officer 

Dr Andrew Hagan said: “Providing the 

hydrogen for this significant journey is 

a proud moment. The superior range 

on this fuel cell vehicle is a comfort and 

reassurance for organisations ordering new 

vehicles and updating their fleets. We are 

building refuelling stations where they are 

needed most and removing diesel from our 

roads. This infrastructure will enable Tevva 

truck drivers to go the distance.” 

Engineer Ryan Clark, 25, joined Tevva two 

years ago after completing his engineering 

degree at Glasgow University. He says the 

exercise demonstrates the direction of 

traffic as far as hydrogen is concerned. “On 

paper, of course, the range it achieved was 

expected”, he said. “But it’s still a great 

feeling, to put the prototype together and 

see it blasting that kind of mileage. 

“What we’re doing here is exciting. I talk to 

friends who are working in automotiveand 

typically new engineers only get the chance 

to shadow teams working on significant 

projects. At Tevva, there’s a sense of 

empowerment, an opportunity to get your 

hands dirty. 

Graduate Engineer Toby Hurst, 24, agrees. 


He said: “With the distance it did, it 

performed extremely well – considering 

the conditions we faced. 

“We had a good laugh getting the job done 

too. We like to enjoy what we’re doing 

but we’re deadly serious about testing our 

vehicles and playing our part in the zeroemission 

revolution.” 

During the trip, Ryan said the futuristic 

truck drew lots of admiring glances 

from fellow travellers and just as many 

questions. 

“There was quite a bit of surprise when we 

told people it’s a hydrogen-electric truck”, 

he said. “I guess people just aren’t used to 

seeing one. But they will be…eventually.” 

Charlie added: “One person asked us if it 

was an electric truck and we told them 

about the fuel cell, they said ‘I see…makes 

sense’.” 

Tevva’s approach to hydrogen technology 

Tevva’s revolutionary hydrogen fuel-cell 

range extension technology enables its 

vehicles to do all the work of diesel, with 

total peace of mind about cost, range, and 

environmental impact. 

By adding hydrogen into the energy 

mix, Tevva delivers a solution that gives 

operators the ability to decarbonise their 

fleets at the pace needed by climate 

science and demanded by society. The 

company is taking a dual-energy approach 

to zero-emission mobility, utilising the 

best of battery-electric and hydrogen 

technology to maximise the performance 

of our vehicles. 

Tevva is an active player in helping 

build the battery-electric and hydrogen 

infrastructure ecosystem, and recognises 

that the speed and scalability of hydrogen 

refuelling systems will be crucial to 

adoption while keeping costs under 

control. As low-carbon hydrogen becomes 

cheaper and more widely available, 

hydrogen refuelling will become as 

convenient as diesel refuelling is today. 

Tevva is actively working with hydrogen and 

refuelling station suppliers to establish lowcarbon 

hydrogen services for customers 

and is leading the drive to zero-emissions 

freight and urban logistics. 

Tevva is committed to making hydrogen 

convenient, affordable and sustainable for 

its customers. 



Over 800K Nissan SUVs recalled over key defect-linked issue 

Over 809,000 Nissan SUVs in the U.S. and 

Canada are being recalled due to a key 

defect that can potentially lead to engine 

failure, according to an announcement 

made. The recall covers certain Rogues 

from the 2014 through 2020 model years, 

as well as Rogue Sports from 2017 through 

2022. Nissan says the SUVs have jackknife 

folding keys that may not remain fully 

open. If driven with the key partially folded, 

a driver could touch the fob, inadvertently 

turning off the engine. This can cause a loss 

of engine power and power brakes, and the 

airbags might not inflate during a crash. 

The company says it is not aware of any 

crashes or injuries caused by any such 

issue. Nissan has not come up with a fix 

yet. Owners will be notified in March with 

an interim letter telling them not to attach 

anything else to the key ring. Then they will 

get another letter asking them to take their 

SUVs in for repairs. The automaker says 

owners with keys that will not stay in the 

open position should contact their dealers. 

VW joins e-car price war 

as global rivalry heats up 

German giant Volkswagen is set to follow 

Tesla’s lead with a high-profile price drop 

as the battle for global dominance in the 

electric car segment intensifies, and local 

challengers race ahead in key market China. 

A new version of Volkswagen’s flagship ID.3 

electric car model will go on sale from the 

end of March for just under 40,000 euros 

($42,000), the VW brand announced. 

That is a 3,000-euro markdown from the 

current ID.3 price tag, putting it on par with 

U.S. rival Tesla’s popular Model Y. 

Industry insiders see the move as a direct 

response to several rounds of price-cutting 

by the Elon Musk-owned company in 

recent months, including discounts of up to 

20 percent in Europe and the United States. 

In Germany, Tesla’s sales soared by more 

than 900 percent year-on-year in January 

as a result, making it the top-selling e-car in 

the country that month. 

Although the 10-brand VW group was 

Europe’s leading e-car manufacturer in 

2022 with 352,000 vehicles sold, Tesla’s 

audacious markdowns have forced the 

German firm’s hand, said industry analyst 

Ferdinand Dudenhoeffer. 

“Volkswagen sees how big the threat is 

from Tesla,” he told AFP. 

The automaker will have “no choice” but 

to enter “a price war” to defend its place 

in the hotly contested market for batterypowered 

vehicles, even if that means profit 

margins take a hit for a while. 

VW group CEO Oliver Blume has so far 

ruled out a general price drop on all 

e-cars, but the topic is bound to come 

up when the group presents its 2022 

financial results. But Musk is not VW’s only 

headache. In China, the world’s largest car 

market, the industry’s electrification has 

shifted into higher gear and VW is rapidly 

falling behind domestic competitors. 

The Asian giant currently accounts for 

some 40 percent of VW group sales, 

mostly vehicles with traditional internal 

combustion engines, giving it a market 

share in China of 16 percent. 


Türkiye issues quake rebuild rules as 

new housing construction starts 

Türkiye issued regulations for earthquake 

rebuilding work in the southeastern region 

as the government focuses on building new 

homes for the millions who need rehousing 

after this month’s devastating tremors. 

Marking the first significant endeavor, 

the government announced it started 

construction on 855 housing units in 

Gaziantep, one of the 11 provinces affected 

by what is described as the worst disaster 

in Türkiye’s modern history. 

The magnitude 7.7 and 7.6 quakes struck 

on Feb. 6, killing more than 43,500 people 

in Türkiye and nearly 6,000 in neighbouring 

Syria, and destroying 164,000 buildings, 

containing some 520,000 apartments. 

President Recep Tayyip Erdoğan has 

pledged to rebuild homes and the 

southeastern disaster zone within a year. 

Many survivors have either left the 

southern region or have been settled 

in tents, container homes and other 

government-sponsored accommodations. 

Erdoğan had said the government would 

cover the rent of those who leave quakehit 

cities. “We will rebuild these buildings 

within one year and hand them back to 

citizens,” he said. Around 865,000 people 

live in tents and 23,500 in container homes, 

while 376,000 are in student dormitories 

and public guesthouses outside the 

earthquake zone, Erdoğan said . 

The U.N. Development Program (UNDP) 

said it estimated that the destruction had 

left 1.5 million people homeless, with 

500,000 new homes needed. 

According to a presidential decree 

published in the country’s Official Gazette, 

companies or charities can help build new 

homes in the region. 

Under the new regulations, individuals, 

institutions and organizations will be 

able to build residences and workplaces 

that they can donate to the urbanization 

ministry, and those properties will then be 

handed to those in need, the decree said. 

First homes 

After necessary ground investigations, 

the state-run Housing Development 

Administration (TOKI) has initiated the 

construction of the first homes in districts 

of Gaziantep province, Environment, 

Urbanization, and Climate Change Minister 

Murat Kurum. 

“Our entire effort is focused on returning 

our citizens to their homes as soon as 

possible. We are starting work immediately 

in areas where we have signed contracts 

and completed ground surveys,” Kurum 

wrote on Twitter. 

“We have broken ground for the 855 

housing units that we will build in the first 

stage in Nurdağı and Islahiye with the hand 

of TOKI.” 

Over the past two decades, TOKI built 

around 1 million quake-resilient houses, 

while the private sector built slightly more 

than 2 million homes during the same 

period, Kurum said earlier. 

He said the government would consider 

detailed geological surveys in its city 

reconstruction plans and that tenders 

would be held. 

“For several projects, tenders and 

contracts have been done. The process is 

moving very fast,” a government official 

told Reuters, speaking on condition of 

anonymity, adding there would be no 

compromise on safety. 

The initial plan is to build 200,000 

apartments and 70,000 village houses at 


the cost of at least $15 billion, he said. 

The bill to rebuild houses, transmission 

lines, and infrastructure could be around 

$25 billion, Wall Street bank JPMorgan 

said in a report. Another report from the 

business association TÜRKONFED estimated 

damages to housing at $70.8 billion. 

Interior Minister Süleyman Soylu said more 

than 600,000 apartments and 150,000 

commercial premises had suffered at least 

moderate damage. 

“Our cities will be built in the right places; 

our children will live in stronger cities. We 

know what kind of test we are facing, and 

we will come out of this stronger,” he told 

state broadcaster TRT Haber. 

The UNDP said it had requested $113.5 

million from the $1 billion in funds 

appealed for by the United Nations, adding 

that it would focus this money on clearing 

away mountains of rubble. 

The UNDP estimates that the disaster had 

produced between 116 million and 210 

million tons of rubble, compared with 13 

million tons of rubble after the earthquake 

in northwest Türkiye in 1999. 

Investigation widens Separately, Justice 

Minister Bekir Bozdağ said 171 people had 

been arrested and 77 more faced detention 

as part of an investigation into collapsed 

buildings in the earthquake area related to 

violations of building codes. 

“Everyone involved will be held 

accountable in front of courts. Everyone 

will be punished according to their 

responsibility,” Bozdağ told private 

broadcaster CNN Türk late. He said legal 

changes could be needed for crimes 

regarding construction permits and said 

the authorities should discuss more brutal 

punishments and deterrents for violating 

zoning rules, which dictate where and how 

buildings can be more safely built. 

Soylu also said authorities were widening 

an investigation into contractors suspected 

of violating safety standards and 

multiplying the scale of devastation. 

He said 564 suspects had been identified, 

and many more were still under 

investigation. In Antakya, Hatay, Saeed 

Sleiman Ertoğlu, 56, loaded up what 

remained of his stock from his waterpipe 

shop that was not damaged in the two 

massive earthquakes on Feb. 6, followed by 

another strong quake two weeks later. 

“The glassware was stunning, more than 

usual, but then we had this (earthquake), 

and it all got ruined,” he told Reuters 

after his home and shop survived the first 

tremors but not the latter. However, he 

estimated that 5% of his merchandise 

survived. 



76

Watt eCV1 Unveiled: The Foundation Of Future 

Low-To-Medium Volume Electric Light Commercial Vehicles 

Watt Electric Vehicle Company (WEVC), 

a pioneer in the design, engineering, and 

manufacture of low-to-medium volume 

EVs, both under its own brand and for third 

parties, today reveals a unique lightweight 

and efficient chassis-cab product set to 

provide the foundation for next-generation 

electric light commercial vehicles. 

Designed for production of up to 5000 

vehicles per annum, the innovative and 

highly flexible 3.5-tonne cab and chassis 

unit, codenamed WATT eCV1, enables a 

wide range of electric commercial vehicle 

designs, facilitating mission-specific models 

which meet customers’ particular fleet 

requirements. 

The first of multiple commercial vehicle 

offerings to come from WEVC, the eCV1 

uses the company’s breakthrough, 

proprietary PACES architecture, a 

sophisticated yet cost-effective modular 

electric vehicle platform. Developed to 

support commercial vehicle manufacturers, 

specialist vehicle converters and fleet 

operators in the transition to an electric 

future, PACES complies with ISO regulations 

and exceeds stringent European Small 

Series Type Approval safety standards. 

It’s ’cell-to-chassis’ system means batteries 

are integrated to the primary structure 

(rather than having a separate battery 

pack), thus optimising stiffness, minimising 

weight and maximising payload. As a 

result, the clean sheet design means the 

eCV1 has none of the structural, weight 

and packaging compromises inherent 

in the majority of electric LCV designs, 

many of which having been converted 

from ICE drivetrains and which are further 

constrained by traditional high volume 

manufacturing processes. 

The eCV1 range features a central driving 

position which allows a safer kerbside exit 

for the operator, whichever side of the road 

the vehicle is driving or parked on. The 

cabin can be configured as a one-, two- or 

three-seater vehicle, with the large glass 

house providing superb visibility making 

the vehicle safer to drive and easier to 

manoeuvre and park. A further benefit of 

the central driving position is that it has 

allowed the A-pillars to be repositioned 

inboard, thus reducing frontal area and 

drag, a key metric in designing an efficient 

electric commercial vehicle. The unique 

platform design creates generous full 

standing height headroom, facilitating easy 

ingress and egress and a ‘walk through 

cabin’ option that is ideally suited for urban 

delivery vehicles. 

The intrinsically lightweight PACES 

architecture results in a chassis cab with a 

kerb weight from just 1750kg, delivering 

class leading payload and range in the 3.5t 

and 4.25t segments. 

“I’m delighted to reveal the WATT eCV1. 

Our unique approach to addressing the 

challenges facing the industry enables the 

transition to mission-specific, yet costeffective 

electric light commercial vehicles. 

We have embraced circular economy 

principles in the design, manufacture, and 

operation of our commercial vehicles 

to specifically align with increasingly 

stringent corporate and fleet operator 

sustainability responsibilities. The industry 

is rapidly moving to a zero-emission 

future, working with WEVC and our eCV1 

platform will allow customers to benefit 

from electrified commercial vehicles 

tailored to exactly meet their needs,” 

explains Neil Yates, Founder and CEO of 

Watt Electric Vehicles. 

Advanced e-platform technology, 

manufactured in the UK 

Flexible, scaleable, lightweight and costeffective, 

WEVC’s PACES architecture 

(Passenger And Commercial EV 

Skateboard) features bespoke aluminium 

lightweight extrusions and ultra-precise 

laser-cut and CNC-folded pieces which 

ingeniously interlock and bond together, a 

technical innovation known as FlexTech®. 

Designed for low-to-medium volume 

manufacture, it can be applied to 

passenger and commercial vehicles 

including FWD, RWD and AWD 

configurations – enabling WEVC to rapidly 

engineer a broad range of lightweight 

automotive products. With a capacity of 

5,000 units per annum, the company’s 

new UK manufacturing facility will be 

home to its light commercial EV range. 

From the outset, WEVC’s business to 

business services have included ‘white 

label’ build provision for third party 

manufacturers and OEMs, in parallel with 

its own-branded commercial EVs. 


Türkiye slaps 

40% extra tax on EV 

imports from China 

Türkiye has imposed a 40% additional tariff on imports of motor 

vehicles with only electric motors from China, a presidential 

decision published in the country’s Official Gazette showed. 

The implementation came as Türkiye prepares to roll out the 

country’s first domestically produced electric car, Togg. 

Starting the project in 2018, Togg began the mass production 

phase in October as President Recep Tayyip Erdoğan inaugurated 

the long-anticipated massive manufacturing plant in the 

northwestern province of Bursa. 

Togg will debut in the market in the first quarter of 2023 with 

the SUV, its first smart device in the C segment, after the 

completion of homologation tests. 

To encourage the success of the project, the government has 

provided various forms of support, including tax reductions, 

land allocation, favorable borrowing rates and a commitment 

to purchasing 30,000 vehicles annually until the close of 2035. 

In 2022, sales of electric cars in Türkiye surged by almost threefold, 

reaching 7,733 units, due in part to lower consumer tax 

rates when compared to traditional combustion-engine cars. 

Despite this impressive growth, electric vehicles only account 

for slightly over 1% of the country’s overall passewnger car 

market. The sales of passenger cars and light commercial 

vehicles in the country rose 63.4% year-over-year in January 

to 81,148 units, the Automotive Distributors and Mobility 

Association said . 

In the January-February period, sales increased 50.4% year-over-year, 

the association added.

Atumotive Exports April 2023

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