Partnership structure at TOGG is changing: No one remains from the names in the '5 bravehearts' photo
The change in TOGG's partnership structure has brought the business leaders who launched the project in 2017 back into the spotlight; the representatives in the photo have changed.
12punto
New developments regarding the partnership structure of Turkey's domestic automobile, TOGG, have brought the companies and their representatives, known as the "5 bravehearts" during the project's founding period, back into the spotlight.
Announced in November 2017 under the leadership of President Recep Tayyip Erdoğan, the Automobile Initiative Group of Turkey set out with the participation of four major holdings and the Union of Chambers and Commodity Exchanges of Turkey (TOBB). In the years since TOGG put its first vehicles on the road in 2023, both the partners and the individuals representing the institutions have changed.
Following İnan Kıraç's departure from the project in 2021, it is reported that Anadolu Group and Zorlu Holding, which each hold a 23 percent stake, have also begun negotiations to transfer their shares in TOGG to Turkcell and the Turkey Wealth Fund.
CURRENT PARTNERSHIP STRUCTURE
In TOGG's current shareholder structure, Anadolu Group, BMC, Turkcell, and Zorlu Holding each hold a 23 percent stake. TOBB's share stands at 8 percent.
| Shareholder | Share ratio |
|---|---|
| Anadolu Group | 23 percent |
| BMC | 23 percent |
| Turkcell | 23 percent |
| Zorlu Holding | 23 percent |
| TOBB | 8 percent |
Journalist Emre Özpeynirci also drew attention to the founding photo taken on November 2, 2017, in a post on his social media account, noting that none of the representatives from that time hold the same position today.
The '5 Bravehearts' set out for Turkey's automobile with this photo. 9 years have passed; the photo remains, but all the names representing the 5 bravehearts have changed.
According to Özpeynirci's post, İnan Kıraç, Ahmet Nazif Zorlu, and Tuncay Özilhan are no longer involved in the partnership. While Fuat Tosyalı has replaced Ethem Sancak at BMC, Şenol Kazancı now occupies the seat previously held by Ahmet Akça, who represented Turkcell.
Thus, while the business leaders and representatives in the founding photo have changed, only President Erdoğan and TOBB President Rifat Hisarcıklıoğlu, who were in the frame, remain in the same positions.