Türkiye’s Vestel invests in US charging company, seeks market entry
The exterior of a Vestel facility featuring the company's bold red logo. (Adobe Stock Photo)
Turkish electronics giant Vestel’s venture capital arm, Vestel Ventures, has announced its investment in Splitvolt, a U.S-based company specializing in energy efficiency and electric vehicle (EV) charging solutions.
Vestel Mobility General Manager Ender Yuksel said the investment paves the way for the company to expand into American households. “Our collaboration with Splitvolt will allow us to introduce Vestel Mobility products to the U.S. market more quickly and effectively,” Yuksel stated.
Splitvolt is an established brand preferred by tens of thousands of customers across the United States and North America. The company develops innovative, cost-effective electric vehicle (EV) charging technologies, continuously expanding its product range to offer users practical and accessible charging solutions.
One of Splitvolt’s standout products, the Splitter Switch, enables EV owners to safely and automatically share an existing 240-volt circuit with a Level 2 charger. The device, which requires no new installation, can be plugged in within a minute, saving both time and costs.
‘An opportunity for expansion into new markets’
Zorlu Holding’s Technology and Business Development Group President Burak Aydin, quoted in the statement, said that Vestel Ventures has been investing in startups for years.
“With this investment, we aim to further expand Splitvolt’s sales volume and reach,” he said.
Meanwhile, Splitvolt Inc. Founder and CEO Daniel Liddle expressed his enthusiasm for the strategic commercial and investment partnership with Vestel Mobility and Vestel Ventures.
“Vestel has already proven itself as a successful global business worth billions of dollars across Europe and beyond. This bilateral partnership presents an opportunity for both companies to create technology synergy and expand into new markets,” Liddle stated.
Founded in 1984, Vestel is an electronics manufacturer and a subsidiary of Turkish conglomerate Zorlu Holding, headquartered in Manisa, Türkiye.
