Emerging issues in the Bangladesh renewable energy and power sector
8 hours ago
Hyundai (Seoul/005380) Motor Turkiye is planning to launch production of an electric vehicle (EV) model at its Izmit plant in 2026, the company said on March 3.
Alongside EVs, Hyundai’s Turkey unit will continue to produce models with internal combustion engines.
Hyundai plans to move to a zero-tailpipe emissions portfolio of vehicles in Europe by 2035.
| Major EV production investments in Turkey or by Turkish companies abroad | ||||||
| Firm | Sector | Amount | Investment | Capacity | Location | |
| 2026 | Hyundai (Seoul/005380) Motor Turkiye | Automotive | - | Electric vehicle (EV) model | - | Kocaeli |
| Aug-2024 | Yigit Aku (YIGIT), Ganfeng Lithium (China/Shenzhen/002460) | Automotive | $500mn | Electric vehicle (EV) battery plant | 5 GW/year | - |
| 2026 | BYD (China) | Automotive | $1bn | Electric vehicle (EV) | 0.15mn/year | Manisa |
| Q1-2024 | Skywell (Skyworth/China), Ulu Motor (Ulubaslar) | Automotive | €50mn | Electric vehicle (EV) battery plant | - | - |
| Sep-2022 | Belka (Ankara Municipality) | Automotive | - | Electric vehicle (EV) | Diesel-to-electric conversion | Ankara |
| Sep-2022 | Otokar (OTKAR) | Automotive | - | Electric vehicle (EV) bus | - | Sakarya |
| Sep-2022 | Anadolu Isuzu (ASUZU) | Automotive | - | Electric vehicle (EV) bus and minibus | Big.e, NovoCiti Volt | Kocaeli |
| Sep-2022 | Temsa | Automotive | - | Electric vehicle (EV) bus | LD SB E | Adana |
| 2024 | Ford Otosan (FROTO) | Automotive | - | Electric vehicle (EV) trucks | - | Eskisehir |
| Sep-2022 | Karsan (KARSN) | Automotive | - | Electric vehicle (EV) bus, hydrogen bus | - | Bursa |
| 2024 | Ford Otosan (FROTO) | Automotive | €715mn | Electric vehicles (EV) (Puma (SUV), Transit Courier (Van), Tourneo Courier (Kombi)) | 250,000 units/year | Romania |
| 2022 | TOGG | Automotive | TRY3.5bn | Electric vehicle (EV) plant | - | Bursa |
| 2026 | Ford Otosan (FROTO) | Automotive | TRY22bn (€2bn) | Electric vehicle (EV) battery plant/Capacity expansion | 0.13mn/0.21mn | Kocaeli |
| 2022 | Ford Otosan (FROTO) | Automotive | €4mn | Electric scooter (EV) production | Engines by Arcelik (ARCLK) | Eskisehir |
| Nov-2021 | Kalyon Electrical Vehicle | Automotive | - | Electric vehicle (EV) battery development | Company launch | Istanbul |
| Nov-2021 | Farasis(China)-TOGG | Automotive | - | Electric vehicle (EV) battery plant | 20 GW | Bursa |
| Aug-2021 | Eldor (Italy) | Automotive | $100mn | Electric vehicle (EV) parts plant | 0.55mn unit/year | Izmir |
Table: Major electric vehicle production investments in Turkey or by Turkish companies abroad.
Hyundai Motor Türkiye, formerly named Hyundai Assan Otomotiv Sanayi, is Hyundai Motor Group's first and longest-serving overseas production hub outside of Korea.
In 2021, Hyundai Motor acquired its local partner Kibar Holding’s 30% stake in Hyundai Assan.
Since 1997, Hyundai's Turkey unit, which has an annual production capacity of about 245,000 units, has produced more than 3mn vehicles. A share of 55% of components are supplied by more than 50 local manufacturers.
Hyundai is the 5th largest automobile manufacturer in Turkey. It produced 242,016 vehicles in the country in 2024.
Related Content
bneGREEN
Emerging issues in the Bangladesh renewable energy and power sector
Only about 4% of Bangladesh's 28,000 MW of installed capacity is renewable energy sources.
Adoption of Chinese wind technology sparks security fears in Europe
Germany has been warned that allowing Chinese firms to supply wind turbines could pose a threat to its political system and economy.
.webp_Cropped_(1)_0_1740541657.png)
Forest fires drive up Ukraine war emissions
The war in Ukraine has generated nearly 230mn tonnes of CO2-equivalent emissions since Russia's full-scale invasion began three years ago, with forest fires significantly contributing to the increase, according to a new analysis.
Saudi philanthropic foundation launches AI platform to track global climate change
Alwaleed Philanthropies has unveiled Atlai 2.0, an advanced AI-powered platform designed to transform climate change monitoring.
Serbia’s second renewables auction attracts global investment
Serbia successfully allocated its full 424.8-MW quota in the second round of its renewable energy auction, supported by the EBRD.
Most Read
-
Shocked but defiant, Ukrainians react to dramatic shift in US policy
13 hours ago
-
Emerging issues in the Bangladesh renewable energy and power sector
8 hours ago
-
India and Pakistan choose sides - in outer space
12 hours ago
-
USAID spent $20mn on Iraqi Sesame Street project
1 month ago
-
Fears Russia-friendly EU members to undermine ‘five to midnight’ summit
4 hours ago
-
Ukraine doesn't have any rare earth metals, and the strategic minerals it does have are not worth trillions of dollars
10 days ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
10 months ago
-
KYIV BLOG: Ukraine’s worst nightmare becomes real
6 days ago
-
Turkey invited to top table as Europe scrambles to rearm
2 days ago
-
Colombian president blasts Ukraine-US minerals deal as "stupidity"
6 days ago
-
Ukraine doesn't have any rare earth metals, and the strategic minerals it does have are not worth trillions of dollars
10 days ago
-
US administration 'misinformed about Romanian elections', says presidential candidate Nicusor Dan
10 days ago
-
Putin says sanctions have strengthened, not weakened, Russian economy
12 days ago
-
Russia's international reserves back above $600bn
7 months ago
-
Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
10 months ago