NASDAQ value Tesla share: Tesla plans expansion into Turkey

• So far only a few Tesla cars in Turkey due to the lack of Tesla infrastructure
• 2023 Tesla plans to open service centers and supercharger stations in Turkey
• Tesla is hoping for great growth in the Turkish car market

Until now, it has been associated with high costs and hassles for Tesla enthusiasts from Turkey to buy their beloved vehicle. First, they have to import the Tesla cars themselves at high prices because there are no Tesla dealers in Turkey. After that, the maintenance and charging of the vehicles is extremely difficult because there is no Tesla infrastructure. Accordingly, few Teslas have been on Turkish roads so far. But that could change now – because Tesla is planning to build its own infrastructure in Turkey for 2023.

First employees recruited in Turkey

Already shared in 2018 Elon Musk announced that Tesla was planning to enter the growing Turkish car market. However, the plan was abandoned later that year due to an escalating tariff war. Since then, things have been quiet about Tesla in Turkey – but that recently changed. As “Electrek” reported, Tesla began recruiting new employees in Turkey, more precisely in Istanbul’s expensive Beşiktaş district. It therefore seems very likely that Tesla will open its first service center there. The official Tesla website also states that the US carmaker plans to open fifteen supercharger stations in Turkey “soon”. The locations of the charging stations are in the largest metropolises in the wealthier west of the country. In addition to Istanbul, this applies to cities such as Ankara, Antalya, Izmir and Bursa. With Kemal Geçer, a general manager for the Tesla business in the Turkish car market has also been appointed.

Turkey: Growing car market awakens growth fantasies

Turkey represents an attractive expansion destination for Tesla. The 85 million inhabitants of the emerging country have been able to increase their level of prosperity in recent years, which has also had an impact on the quantity and quality of cars on Turkish roads. Not only the German luxury brands Mercedes-Benz and BMW are enjoying increasing popularity, but also the Tesla electric cars, which are very popular with the young, globalized middle class. In the first few months of delivery, which will most likely start in 2023, Tesla should be happy about a large number of Turkish prospective buyers.

“Turkish Tesla” TOGG as a serious Tesla competitor?

However, in addition to the increasing international e-car competition for Tesla, there is also a Turkish manufacturer of electric cars that could become uncomfortable for Tesla. TOGG’s cars, also known as the “Turkish Tesla”, are scheduled to hit the market in 2023. The Turkish electric carmanufacturer enjoys high government subsidies. President Recep Erdoğan regards TOGG as an important Turkish prestige project. “Turkey’s national car, TOGG, will come onto the streets of Europe with all its models,” quoted the “Handelsblatt” Recep Tayyip Erdogan in his opening speech. He added: “They will say: ‘The crazy Turks are coming.'” In fact, thanks to relatively inexpensive models, TOGG could quickly secure a large share of the Turkish EV market.

Where could the next Tesla gigafactory be built?

Of course, building a service infrastructure is not the same as building a manufacturing facility. Whenever Tesla expands into a new car market, the US group first builds its own service center and supercharger station. The construction of a manufacturing factory, on the other hand, is much more expensive and complex. But here, too, something could happen soon. So far, Tesla’s gigafactories are located in the USA, and there is also one each in China and in Germany. According to various media reports, Tesla is already planning to build a new gigafactory. However, this will not be created in Turkey, rather Canada is traded as a favorite here. However: In the past few weeks, Tesla has had to deal with previously unknown demand problems. It is therefore currently difficult to estimate whether, when and where a new production facility will be opened.

Editorial office finanzen.net

Selected leverage products on BMW AGWith knock-outs, speculative investors can participate disproportionately in price movements. Simply select the desired lever and we will show you suitable open-end products on BMW AG

Leverage must be between 2 and 20

No data

More news about BMW AG

Image sources: Pe3k / Shutterstock.com, Sergio Monti Photography / Shutterstock.com

ttn-28