Türkiye’s Vestel, Indian automotive firm ink memorandum of understanding

By Enes Ege

ISTANBUL (AA) – Turkish electronics firm Vestel’s subsidiary Vestel Mobility, the electric vehicle (EV) battery and station maker, inked a memorandum of understanding with the India-based automotive electronics firm, Krishna Group’s Shloka Enterprises.

Vestel Mobility released a statement on Wednesday saying that the company’s new venture specializing in EV chargers and batteries is seeking business partnerships in India to become a global player.

The deal was inked to seek potential cooperation opportunities in mobility electronics and EV energy storage systems, such as chargers.

Vestel Mobility’s deal with Shloka Enterprises includes collaborative activities to identify potential opportunities in the Indian EV market for charging stations, and bringing energy storage systems as well as related products to India.

Hakan Kutlu, CEO of Vestel Mobility, noted that the Vestel subsidiary has established more than 180,000 charging sockets in 30 different countries since 2017.

“The need for electric charging stations arises as the global change towards mobility increases, and to be a part of this change and growth, as Vestel Mobility, we are focusing on AC and DC charging stations, automotive electronics, and battery storage solutions,” said Kutlu.

“The memorandum of understanding we inked with Shloka Enterprises aims to gain new opportunities in the Indian market,” he added.

*Writing by Emir Yildirim