Changes in Togg's Partnership Structure and Turkcell's Increased Stake

Following the exit of Zorlu Holding and Anadolu Grubu from the partnership structure of Turkey's domestic automobile Togg, their shares are expected to be transferred to Turkcell. Turkcell's stake is projected to rise to 69 percent.

Changing Balances in the Partnership Structure

A new era is beginning in the partnership structure of Turkey's domestic and national automobile, Togg. In the venture that set off in 2018 with five partners, Zorlu Holding and Anadolu Grubu are now parting ways following past separations.

Reasons for Zorlu Holding's and Anadolu Grubu's Departure

Zorlu Holding, to which Vestel belongs, plans to pay off debts with the cash it will obtain from Togg due to high interest rates and financial difficulties. Anadolu Grubu, on the other hand, wants to direct its cash flow to different areas.

Turkcell's Stake in the Company Expected to Increase

It is anticipated that Turkcell, one of the shareholders, will become the major partner in the company by taking over the shares of the two departing partners. According to the laws, there is no possibility of transferring shares outside the formation.

New Partnership Distribution and Shares

With the expected share transfers, Turkcell's stake in Togg is projected to increase from 23 percent to 69 percent. BMC's stake will remain at 23 percent, and TOBB's stake at 8 percent.

Togg's Production and Brand Value Data

In a study conducted last year, Togg ranked among the top 20 most valuable companies with a brand value of 179 million dollars. The company's paid-in capital is at the level of 996 million liras.

Production Capacity and Number of Employees

Togg, whose Gemlik Factory has an installed capacity of 175 thousand units, has introduced 120 thousand electric models to the market. The company's total number of employees exceeds 1,500 people together with its subsidiaries.