31.08.2026 15:01
It has been claimed that a significant change is being prepared in the partnership structure of the domestic electric car manufacturer TOGG. According to sources speaking to Reuters, Vestel Elektronik and Anadolu Group Holding, which each hold 23 percent stakes in TOGG, will exit the partnership by transferring their shares; the Turkey Wealth Fund will become a partner in the company, while Turkcell will increase its stake. No official statement has been made yet by the parties on the matter.
A comprehensive change is being made in the partnership structure of domestic electric car manufacturer TOGG. While the Turkey Wealth Fund (TVF) is preparing to join the company as a new partner, it has been reported that current shareholders Vestel Elektronik and Anadolu Group Holding will exit the project by transferring their shares.
TVF WILL BUY SHARES, TURKCELL WILL INCREASE ITS STAKE
According to sources familiar with the matter who spoke to Reuters, the 23 percent shares each held by Vestel and Anadolu Group Holding in TOGG will be transferred to other partners. In this simultaneous process, TVF will become part of TOGG's partnership structure by purchasing a portion of the transferred shares. As part of the transaction, it is envisioned that current shareholder Turkcell will also increase its stake in the company.
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EXIT DECISION IS PART OF LONG-TERM STRATEGY
The financial size of the transaction and the rate at which shares will be distributed in the new structure have not yet been clarified. It was stated that work on the final agreement is ongoing and that signatures are expected to be made soon. Sources emphasized that the decision of Vestel, a Zorlu Group company, to leave TOGG was made in line with the company's long-term strategic goals.
NO OFFICIAL STATEMENT YET
Regarding this change in the partnership structure, no official statement has yet been made from the Turkey Wealth Fund, Anadolu Group Holding, Vestel Elektronik, Turkcell, or TOGG in response to the claims.