Türkiye's Togg Leads Nationwide EV Market in H1

Türkiye's Togg Leads Nationwide EV Market in H1

Togg, Türkiye's domestic electric vehicle (EV) manufacturer, emerged as the market leader in the first half of 2024, dominating the nationwide EV sector. According to data from the Turkish Automotive Manufacturers Association (OSD), Togg captured 28% of the market share, delivering 8,500 units between January and June.

The success of Togg is attributed to its competitive pricing, advanced technology, and government incentives. The company, officially known as Türkiye’nin Otomobili Girişim Grubu, launched its first model, the T10X, in 2023. The T10X, a compact SUV, has garnered significant consumer interest due to its affordability and high performance.

The Turkish government has played a pivotal role in Togg's rise by offering substantial tax breaks and subsidies for EV buyers. These incentives are part of a broader strategy to reduce carbon emissions and dependence on fossil fuels. Mustafa Varank, the Minister of Industry and Technology, highlighted that Türkiye aims to become a leading hub for EV production and innovation in the region.

In addition to strong domestic sales, Togg is eyeing international markets. The company plans to expand its presence in Europe and the Middle East by the end of 2024. CEO Gürcan Karakaş stated, "Our goal is to establish Togg as a global brand that represents innovation and sustainability."

Other major players in Türkiye's EV market include global brands such as Tesla, BMW, and Renault. However, Togg's local manufacturing advantage and tailored marketing strategies have given it a competitive edge. Analysts from the Turkish Automotive Distributors Association (ODD) predict that Togg will continue to lead the market if it maintains its current growth trajectory.

Source: Anadolu Agency