Türkiye Wealth Fund becomes the largest shareholder of TOGG

According to the statement made by the Türkiye Wealth Fund, a change was made in the partnership structure of TOGG, which was implemented in line with Türkiye's goal of high value-added production and creating a global mobility and technology brand.

Within the scope of the change, a Share Transfer Agreement was signed regarding the transfer of the shares of AG Anadolu Group Holding and Vestel Elektronik in TOGG's partnership structure to the Türkiye Wealth Fund and Turkcell.

As a result of the process carried out by mutual consent between the founding partners, TOGG's partnership structure was reshaped. In the new partnership structure, Türkiye Wealth Fund will be the largest shareholder of TOGG.

With the signing of the Share Transfer Agreement, an important step was taken to transfer the corporate knowledge and competencies gained since its establishment to the new partnership structure.

In line with the vision put forward by President Recep Tayyip Erdoğan in 2018, TOGG, which was implemented with the contributions of the Ministry of Industry and Technology and the founding partners, played an important role in Türkiye's transformation in the field of industry and technology as one of the important initiatives of the National Technology Move.

Anadolu Group, BMC, Turkcell, Zorlu Holding and TOBB made significant contributions to the development of TOGG, which brings together the production power, engineering competence and corporate experience of different sectors towards a common goal, with their investments, knowledge and roles.

In this process, while new competencies were gained in different fields ranging from engineering to software, from production to technology development, the development of a broader ecosystem, including qualified human resources and technology entrepreneurship, was supported.

TOGG has become one of the strong examples of the public and private sectors acting together in line with Türkiye's industrial and technology goals. The company, which entered the automobile market with the sale of 19 thousand 583 vehicles in 2023, reached 37 thousand 426 sales in 9 months of this year. TOGG, the industry leader with a 31 percent share in the Turkish electric car market in the same period, strengthened its position in Türkiye's electric mobility transformation.

Source: TRT Haber Ekonomi RSS (Open Press / Translated Full Text)