Union of Chambers and Commodity Exchanges of Turkey

The company has been named “Turkey's Automobile Initiative Group Industry and Trade Co.” Anadolu Group, BMC, Kök Group, Zorlu Holding and Turkcell's shares are 19% each while the Union of Chambers and Commodity Exchanges of Turkey has a 5% share.

- M. Gürcan Karakaş, one of the most successful Turkish managers in the world, joins company

One of the most successful Turkish executives in the global automotive world, M. Gürcan Karakas was appointed head of Turkey's Automobile. Having attained significant success in both Turkey and the international market, M. Gürcan Karakaş will lead the way to making Turkey’s Automobile one of the world's most important automotive companies. M. Gürcan Karakaş will assume his duties starting on the 1^st of September, 2018.

- Fundamental design and engineering steps being taken

The design process, which is of great importance in the creation of the domestic automobile brand, has been launched. Support has been received from important domestic and international names during the design process. The design is aimed to be presented to the public along with the prototype vehicle at the end of 2019.

- Turkey's Automobile will be built on the technologies of the future, easily meeting all the requirements of the age

Work has begun on the platform which will form the basis of a new generation of vehicles; platform characteristics have been determined taking into consideration the important technologies of the times: electric, interconnected and autonomous driving.

Work on the long awaited Turkey's Automobile continues as planned and with full determination. In the future, key positions for the company will be filled, internal structures will be started; engineering and design work will be accelerated.

It was emphasized that, with the support of President Recep Tayyip Erdoğan, Prime Minister Binali Yıldırım, Minister of Science, Industry and Technology Faruk Özlü and the Turkish people, work is determinedly underway to produce a brand that the Turkish nation can be proud of in the domestic and international markets.

- TOBB President M. Rifat Hisarcıklıoğlu

Extending his wishes for the success of the company, TOBB President Rifat Hisarcıklıoğlu said, “As per the task set to us by the President on May 24, 2017, at the 73^rd TOBB General Assembly, we’ve been hard at work to make Turkey’s dream a reality and to bring together our five braves. We are happy to have reached the company establishment stage of this endeavor which started with the signing of the Cooperation Protocol on November 2^nd, 2017 to prepare financial and technical feasibility. We will continue to work with determination for the success of the project as a shareholder of the company representing 1.5 million members. We would like to thank the President, Prime Minister and the Minister of Science, Industry and Technology for their support from day one.”

- Science Industry and Technology Minister Faruk Özlü

Science, Industry and Technology Minister Faruk Özlü said, “Turkey's Automobile Project will serve as a leader for Turkey’s technological leap forward and act as a technology platform for all other sectors.”

Faruk Özlü went on, “We have completed the financial and financial analysis studies and the process of the incorporation process as the Joint Venture Group. We set out the road map of the company and made the appointment of our General Manager. I wish him success in his new assignment.

I would like to thank our TOBB and the companies in the Joint Venture Group who embraced the project with great faith.

We owe a debt of gratitude to the President of the Republic of Turkey for supporting and protecting this great technological breakthrough project from the beginning.”

- Anatolia Group Chairman Tuncay Özilhan

Stating that they are happy with concrete steps being taken in Turkey's Automobile project, Anatolia Group Chairman Tuncay Özilhan said, “As one of Turkey's most important industrial groups, we consider domestic production to always be of strategic priority. We believe that this valuable project, with its ecosystem will bring not only production but also benefits to economy, technology and employment. It is my hope that the project will produce sustainable results, contributing to our country and our economy.”

- BMC Chairman Ethem Sancak

Ethem Sancak, Chairman of BMC, said, “We have set out our 10-year detailed roadmap and business plan with a fast and effective operation during the 5-month period when we started the Turkey’s Automobile Joint Venture Group at the end of 2017. We have completed our financial feasibility assessment and appointed our CEO. For this successful and harmonious working period, we would like to extend our gratitude to the President, Prime Minister and the Minister of Science, Industry and Technology, TOBB and our partners. May it prove beneficial for our country. BMC, which has adopted the concept of domestic and national industry, will be in service of our country and project with 54 years of automotive experience and 2,300 employees.”

- Kök Chairman İnan Kıraç

Kök Chairman İnan Kıraç said, “The Turkish automotive industry and subsidiary industry, which have overcome many difficulties over the years, have come to a very high point, exemplified by their total production and their total exports. It is well within our means to produce a domestic car without foreign partners. We crown our conviction in Turkey's Automobile Joint Venture Group with these signatures. I sincere wish for Turkey to be involved in the global arena with its own brand and we will continue to work with all our might to achieve this.”

- Turkcell Chairman Ahmet Akça

Turkcell Chairman Ahmet Akça, “As Turkcell, our biggest goal is to ensure that Turkey is not just a consumer, but a producer of technology.

We would like to thank the President, Prime Minister and the Minister of Science, Industry and Technology, our partners in Turkey's Automobile Joint Venture Group as well as our great nation for their support.”

- Zorlu Holding Chairman Ahmet Nazif Zorlu

Stating that the domestic automobile project is an indication of the power Turkey’s industry as well as its commitment to having a say in the technologies of the future, Zorlu Holding Chairman Ahmet Nazif Zorlu said, “I believe that under the leadership of our President, Science, Industry and Technology Ministry and the TOBB's support and coordination, as well as the involvement of a valuable name like Gürcan Karakas with the knowledge and experience gained the in similar fields abroad, Turkey's automobile project will become a reality in the fastest and most efficient way and be exemplary in the world.”

- Project CEO M. Gürcan Karakaş

Stating that the project as well as being a macroeconomic necessity for Turkey, the project is strategically important and Gürcan Karakaş said, “I have taken an active role in automotive technology in the last 12 years. Technological development of classic cars will transform into a mobility ecosystem. With high motivation and commitment of our project, combined with the great potential in the country, it is almost certain that we will have a say in the global market. I was born in Turkey and grew up here; I was educated in this country. I stepped into the business life in Turkey. I'm very happy for the opportunity to add my experiences in the global market to this project. You can be sure that Turkey will be more than a brand that can compete in the global environment.”