Vestel unveils Vestel Mobilite extending investments into electric vehicles, energy storage

By Sibel Morrow

Turkish home and professional appliances manufacturing company Vestel unveiled its new startup company Vestel Mobilite on Thursday for the production of electric vehicle (EV) charging stations, energy storage systems and automotive electronics.

The new company was introduced at a news conference attended by Vestel CEO Ergun Guler.

In his keynote speech, Guler introduced Vestel Mobilite as a newly established entity that represents a divergence from the parent company’s traditional focus on the production of white goods and electronics.

With the global-scale paradigm shift towards electric vehicles, Guler said the company aims to align with this trend and participate more in this market.

The company’s interest in this sector has extended to a 23% stake in Togg, the Turkish EV manufacturer headquartered in the country’s northern Kocaeli province and founded in 2018 by a joint venture of five Turkish companies.

Vestel intends to work on the software and technology for the in-car screens, or what he calls "the computers of the cars,” which Vestel already manufactures and supplies.

According to Guler, the company’s ultimate goal is to develop its role as one of the most important players in EV charging stations, with a larger global share in this field.

He described the company's ambitious goal to establish itself as a leader in technology in Türkiye with the hope of obtaining a ranking in the Fortune Global 500, an annual ranking of the top 500 companies globally based on revenue.

Vestel has produced electric charging stations for the past seven years, exporting to more than 30 countries, including Poland, Spain, Italy and Greece.

Vestel’s portfolio consists of charging units capable of charging from 60 kilowatts to 720 kilowatts, but Guler said 1000 kilowatt units will hit the market in January 2025.

The company is on a fast track with its R&D, production, sales and marketing teams. The company has a presence not only in Türkiye but also in the Netherlands, the Far East and India.

Guler is confident that the company can follow in the footsteps of other startups in Silicon Valley, where these companies have grown into billion-dollar companies within three years.

Additionally, the company is interested in developing energy storage systems for both the local Turkish market and the international market.