Turkish Vestel aims to become global leader in EV charging stations

Vestel, one of Türkiye’s leading electronics manufacturers, is positioning itself to become a global leader in electric vehicle (EV) charging stations, particularly in the field of direct current (DC) charging, according to CEO Ergun Guler.

Vestel seeks to dominate EV charging market

The company aims to be one of the top three producers of fast and ultra-fast charging devices globally.

“We are a company that is very advanced in DC devices. The fast and ultra-fast charging devices we produce can charge a car in just seven to eight minutes,” Guler said in an interview. He added that while there are some small-scale producers, only three companies worldwide mass-produce such devices, and Vestel is on track to be one of them.

Pioneering technological advancements

Vestel has already been exporting electric vehicle charging stations, particularly for AC (alternative current) systems, for more than five years. Guler highlighted that Vestel has been a key player in this sector, with its products widely used in countries like Germany and Spain.

Starting next year, Vestel will begin producing a 1,000-kilowatt charging device, expanding its capabilities in the fast-charging sector. The company also plays a significant role in the development of Türkiye’s electric vehicle industry, holding a 23% stake in Togg, Türkiye’s national EV manufacturer.

“We are developing and producing all the screens for Togg and are in talks with international brands to supply screens for their vehicles,” Güler noted.

Global shift to mobility

As a leading television producer in Europe, Vestel is leveraging its expertise in electronics to transition into the mobility sector. The global shift toward electric vehicles and energy storage systems is expected to drive massive growth in this field. Vestel’s strategy involves tapping into the expanding EV market and establishing itself as a key supplier for global automotive brands.

Guler pointed to a significant transformation in the automotive industry, as companies such as Tesla and BYD have emerged as major players, overtaking traditional automakers. “Production dynamics and market players are changing rapidly,” Guler said, emphasizing Vestel’s ambition to be a Tier 1 supplier to major global brands.

Supply chain and global operations

Guler also addressed the challenges posed by fragile global supply chains, noting the growing importance of concepts like nearshoring and friend-shoring. Türkiye, as a nearshoring destination, has seen increased demand from Europe, Asia, and Africa, providing Vestel with an opportunity to expand its footprint.

“Our goal is to bring Vestel Mobility to the global market, and we aim for an IPO valued above $1 billion,” Guler added.