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🇹🇷 Turkey /Economy & Trade

Fuat Tosyalı: “TOGG Is Headed for Profit, and Demand for the Altay Tank Is Strong”

From Hürriyet · () Turkish

Translated from Turkish and summarized by DistantNews. Read the original for the full story.

At a glance

Interview Named sources New plan
  • Fuat Tosyalı says TOGG aims to raise annual production first to 150,000 vehicles and then to 210,000, with new models planned for 2027-2029.
  • He describes TOGG as moving toward profitability and says a possible transfer of shares held by Vestel and Anadolu Group would not change the company’s mission or vision.
  • Tosyalı says the Altay tank is complete and has attracted demand from nearby countries, although the article notes that details remain subject to defense-sector confidentiality.

TOGG is moving toward profitability, while the Altay tank is complete and already attracting interest from countries in the surrounding region, according to Fuat Tosyalı, chairman of Tosyalı Holding and the boards of BMC and TOGG.

Tosyalı said TOGG’s annual production target is 150,000 vehicles initially, rising later to 210,000. The company’s infrastructure can support that increase, he said, and higher production would reduce investment costs per vehicle. The target is to reach a pace of 500 cars a day. New models are planned for 2027 through 2029, and Tosyalı said the company is now seeing signs that TOGG can become a profitable investment.

The tank is complete. There is even demand from nearby countries.

· Fuat TosyalıHis assessment of the Altay tank’s status and foreign interest.

He also addressed reports that Vestel and Anadolu Group could leave the partnership. No share sale has been completed, he said. Because both are publicly traded companies, they have made the necessary disclosures. If the two groups’ combined 46% stake were acquired by the Turkey Wealth Fund and Turkcell, he said, that would not alter TOGG’s mission or vision.

We first aim to raise annual production to 150,000 and then to 210,000.

· Fuat TosyalıThe production targets he gave for TOGG.

Tosyalı added that if an existing partner wanted to sell its TOGG shares to an institution or company that is not currently a partner, the other partners would first have to be offered the shares under their pre-emption rights. He said there was no such situation at present.

The discussion also covered the company’s industrial and defense operations. The article describes Tosyalı’s rise from a nine-square-meter workshop to an international steel group, as well as the company’s steel plants and port in Hatay. It says the resulting steel is used in BMC armored vehicles and the Altay tank. On the tank, the article emphasizes that sensitive defense information remains subject to confidentiality, while reporting Tosyalı’s statement that the vehicle is complete and has attracted regional demand.

In the period ahead, we see TOGG as a profitable investment. We are also receiving signals of this.

· Fuat TosyalıHis outlook on TOGG’s profitability.
About this summary

Originally published by Hürriyet in Turkish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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