Details of Skywell's factory investment plan in Turkey have been revealed

Stating that Skywell is preparing to produce electric cars in Turkey, Ulubaş said that this point was reached as a result of two years of intensive negotiations and work.

Noting that the brand will launch 7 models for Europe within the next five years, Ulubaş said, "We have made significant progress regarding the production of 2 of these 7 models in Turkey. We are already conducting the process through the Presidential Investment Office. We are continuing it together with the Ministry of Industry and Technology. Our negotiations for the incentive package are ongoing. We plan to apply by the end of December. We are currently about to complete the investment feasibility study requested by the Ministry of Industry and Technology. Following this, we will begin the investment."

"WE WILL BREAK GROUND BY THE END OF THE FIRST QUARTER"

Reporting that a total investment of 1.6 billion dollars is planned, including the construction of a factory with a production capacity of 150 thousand, battery investment, and R&D, Ulubaş said, "We have also made significant progress regarding which province the factory will be located in. We have focused on the Marmara Region. Our negotiations are continuing in the Sakarya, İzmit, and Yalova areas. We are also conducting this process with the Ministry of Industry and Technology and the Presidential Investment Office. If the Ministry gives its approval, we will have broken ground by the end of the first quarter."

"THE NEW VERSION OF THE SKYWELL ET5 WILL ALSO BE PRODUCED IN TURKEY"

Mahmut Ulubaş stated that one of the vehicles to be produced in Turkey will be in the B-SUV segment and said, "The platform for this vehicle will come from China, while its design and development will take place in Turkey. We are positioning ourselves in Bilişim Vadisi (Informatics Valley) regarding this. We will start R&D activities at Bilişim Vadisi as soon as possible. The other vehicle will be a D-SUV, meaning the new version of the current Skywell ET5 will be produced in Turkey."

"WE WILL ACHIEVE 52 PERCENT LOCAL CONTENT IN PRODUCTION"

Stating that Skywell has global plans to expand into Europe and that the main target market for the factory planned to be established in Turkey is considered to be Europe, Ulubaş concluded his words as follows:

"We anticipate that the 10 percent customs duty in Europe will rise to around 20 percent. We have informed the Skywell side about this. In this way, we have brought the investment process to a certain point. Europe is actually the main target market here, but Turkey will also be included in this. So our goal here is exports. We will offer not only automotive services but also battery and vehicle software services, which we call subscription services, to Europe via Turkey. The sub-industry will also be in Turkey. We will carry out production with 52 percent local content. We will position the supply chain via Turkey by establishing it gradually. We will also submit the localization plan regarding this to the Ministry."

News Source: 12punto