Frost & Sullivan: Turkey Should Act Fast to Jump on the Electric Vehicle BandwagonTurkey, with its expertise in world class manufacturing and automotive engineering capability, is well poised to become a global producer of EVs and EV batteries.
By: Frost & Sullivan Frost & Sullivan belives that the global market for EVs will grow up to 1.2 million units by 2015, with 43 vehicle manufacturers offering 75 different EV models. By 2020, anywhere between 7 to 12 per cent of total vehicles sold will be electric vehicles, with Europe and North America being the two biggest markets for EVs in this decade. “Athough the EV industry in Turkey is still in a nascent stage, OEMs like Renault and Fiat are announcing their plans to produce Evs, and the government is gearing up to lay out EV plans for the state,” states Frost & Sullivan's Automotive & Transportation Research Analyst, Hilal Cura in a new Market Insight entitled Era of E-Mobility: Is Turkey Ready to Push the Buttons? OEMs are very much spearheading efforts to promote EVs in Turkey. Renault- However, the two key elements necessary to push the market for EVs are the battery pricing model and the charging infrastructure. “The Li-ion battery adds an additional €7,500-9,500 to the cost of the vehicle. To reduce this extra burden, OEMs and battery manufacturers should work together in offering energy packages with battery leasing,” says Cura. “Similarly, to ensure the effective utilization of EVs, the government needs to install at least 4 charging points per vehicle in the 1st year, thereafter reducing to 2.5 charging points per EV by the 5th year. This will provide steel, communications, electronics sectors as well as installation businesses with good opportunities.” While there is no doubt that OEMs see the potential for EVs in Turkey, the government needs to clarify its position further, offering subsidies and incentives to OEMs and other industries. “This will create and keep jobs in Turkey that might otherwise move to other East European or Asian countries like India and China,” notes Cura. “And in parallel, a domestic EV market should be created by government providing incentives to EV buyers. Turkey is fully capable of grabbing this opportunity, but it needs to unify and act fast.” If you are interested in receiving more information on the Electric Vehicles market in Turkey, please e-mail Monika Kwiecinska - Corporate Communications at monika.kwiecinska@ All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan's Growth Partnerships, visit http://www.frost.com. Contacts: Monika Kwiecinska Corporate Communications – Europe P: +48 (0) 22 390 4127 E: monika.kwiecinska@ http://www.frost.com # # # Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's research and consulting services empower clients to generate, evaluate, and implement effective growth strategies. End
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