IFC offers 100 million euros in funding to Dogus Otomotiv

In a significant move for Türkiye's automotive sector, the International Finance Corporation (IFC) has announced a loan financing of 100 million euros for Doguş Otomotiv, a leading automotive distributor and retailer in the country.

The loan, initiated by Garanti BBVA, will enable Doguş Otomotiv to purchase and distribute electric vehicles across Türkiye. This investment is expected to lower greenhouse gas emissions in the country, contributing to a more sustainable future.

Kerem Talih, Chief Financial Officer of Doguş Otomotiv, expressed his gratitude for the collaboration, stating that it reflects global confidence in their environmental and social performance. Ashruf Megahed, IFC Regional Industry Head, commented that this collaboration marks the beginning of their partnership with Doguş Otomotiv, reflecting IFC's ongoing commitment to supporting the development of Türkiye's automotive sector.

Megahed further stated that Türkiye's automotive industry, one of the region's most dynamic markets, is the focus of their efforts to promote sustainable growth and innovation. By helping to expand the availability of electric vehicles and foster local job creation, they aim to promote sustainable growth and innovation in Türkiye's automotive industry.

According to Megahed, the loan will make sustainable mobility more accessible in Türkiye. It is also expected to support skilled jobs in the country. The investment will further support continuous investments in sales growth and maintenance capabilities for Doguş Otomotiv.

In a positive outlook, Kerem Talih mentioned that the loan will enable Doguş Otomotiv to accelerate its investments and lead the development of Türkiye's electric vehicle ecosystem. Moreover, the loan from the IFC is intended to help Doguş Otomotiv expand the electric vehicle market in Türkiye, reducing dependence on imported fossil fuels in the process.

This collaboration not only marks a step forward for Doguş Otomotiv but also for Türkiye's commitment to sustainable development and the promotion of electric mobility. With the support of the IFC, Doguş Otomotiv is poised to play a significant role in shaping Türkiye's electric vehicle landscape and contributing to a greener, more sustainable future.