Turkish domestic appliance manufacturer Vestel, has taken its first step toward a giant investment in the automotive sector. Aiming to produce electric cars and electric car components, the company has recently became an official member of the Association of Automotive Parts and Components Manufacturers (TAYSAD) that provides 70 percent of exports in the automotive sector.
Vestel Electronics Inc., a subsidiary of the Zorlu Group, is set to enter the electric car sector with its own technology. The company has reached a major level of technological know-how after three years of study and obtained nearly 30 patents for a number of products including smart charging units and batteries. In the first stage, it will produce electric motors, electric motor control mechanisms and the design of master cards that operate engines.
The company's new investment project will be in Manisa. Reportedly, Vestel is engaged in joint work with the government and a broad delegation from the Science, Industry and Technology Ministry is holding joint studies about the company's investments. Vestel aims to shift the majority of its growth plans over the next 10 years toward investments in the automotive industry. The investment plans have caused a stir in the sub-industries of the automotive sector.
TAYSAD, which has 343 members and offers employment for more than 140,000 people, satisfies 65 percent of production in the automotive sub-industry and 70 percent of exports in the sector. A total of 25 percent of TAYSAD's members produce through foreign capital partnerships and the association has a product range that enables the use of 90 percent of domestically produced components in vehicles.
There are also attempts to establish a charging station for electric cars at Istanbul's multiple-use complex Zorlu Center. To this end, 10 new charging units will be installed in the centers car park in the upcoming days.
Vestel showcased its concept electric car and charging system products at the IFA fair in Berlin in early September.