Türkiye’s leading automotive retail and car rental company Otokoç Otomotiv, World Signed a financing agreement of up to 150 million US dollars with IFC, a member of the Bank Group. The financing provided aims to accelerate the transition to cleaner, more efficient and modern mobility solutions by supporting the spread of electric and hybrid vehicles in Türkiye.
In this context, Otokoç Otomotiv aims to strengthen its operational capacity and invest in new technologies and services while supporting the modernization of its vehicle fleet. The investment in question is expected to create new employment areas and expand existing employment opportunities in the mobility sector. In addition to its contribution to employment, the financing aims to provide economic benefit on a larger scale through knowledge transfer and added value creation. In this regard, it is aimed to improve the competencies of local suppliers, adopt higher standards and increase their operational efficiency.
Otokoç Automotive continues to expand access to cost-effective and environmentally friendly mobility solutions throughout Türkiye by increasing the accessibility of electric vehicles in short and long-term car rental activities in addition to automotive retailing. This approach contributes to meeting the increasing demand in the market and supports raising service quality and industry-wide performance standards.
Otokoç Automotive Company Leader İnan Ekicimade the following statements in his evaluation of the agreement: “Our first collaboration with IFC represents an important milestone in Otokoç Otomotiv’s long-term growth journey and our goal of shaping the future of mobility. This financing is a reflection of the trust in our almost century-old operational heritage, our strong financial governance structure and our determination to create sustainable value. Through this investment, we support the spread of cleaner and lower-emission mobility solutions, while helping to create higher standards and qualified employment in Türkiye’s mobility ecosystem.” “IFC’s global expertise and long-term perspective will further strengthen our capacity to deliver modern, accessible and environmentally responsible mobility solutions in all markets where we operate.”
IFC Executive Vice President and CFO John Gandolfo He said: “We aim to move towards a more sustainable and innovative mobility sector in Türkiye by supporting the expansion of access to modern transportation solutions and the promotion of local employment. This investment by IFC is the first investment in Türkiye’s leading mobility company Otokoç Otomotiv, while expanding our presence in the automotive sector and revealing how private capital can support the modernization of Türkiye’s mobility ecosystem.”
Automobile Magazine – English
