Italian Eldor Group makes an electric vehicle systems production investment worth USD 100 million in the Aegean Free Trade Zone (AFZ) in Izmir. The investment will receive state support within the Project-Based Investment Incentives scheme as announced in the Official Gazette on March 19.
Eldor will produce convertors, energy monitoring modules and battery charging units for electric vehicles in the new plant and will provide additional employment for 700 people.
Along with its factories in Italy, USA, China and Brazil, the Eldor Group has been operational in Turkey since 1998 with its three plants and provides employment for 1,750 people.
Previously, the joint venture of Turkey's Koç Holding and US automotive giant Ford, Ford Otosan decided to make a battery production investment in Turkey and received state support within the same incentives scheme.
With all these investments and Turkey's Automobile Joint Venture Group's (TOGG) locally-developed electric car, Turkey aims be one of the world's largest electric vehicle manufacturers in the world and strengthen its long-standing know-how in the automotive sector.