FCHAIN Türkiye Office informs: The HIT-30 Program Will Make Turkey a Hub for Electric Vehicle Production

The HIT-30 High Technology Investment Program has turned the summer season into a time for technology and investment in the automotive sector.

FCHAIN Türkiye Office informs that Şekib Avdagiç, President of the Istanbul Chamber of Commerce (ITO), provided an evaluation of the HIT-Battery Call and HIT Electric Vehicles Call incentives within the HIT-30 High Technology Investment Program, which was introduced with the participation of President Recep Tayyip Erdoğan.

“Turkey’s Investment and Employment Battery Will Be Refueled”

Avdagiç mentioned that the program has transformed the summer season into a time for technology and investment in the automotive sector. “The HIT-30 Program includes two calls relevant to the automotive industry: HIT-30 Electric Vehicles and HIT-30 Battery. The incentives under these programs will make Turkey a hub for electric vehicle production. Particularly when combined with advancements in vocational training and a comprehensive R&D infrastructure, this program will also refill Turkey’s investment and employment battery,” he said.

“Supercharging the Transition to Electric Mobility”

Şekib Avdagiç stated that the HIT-30 Program will act as a “supercharger” for Turkey’s transition to electric mobility. He emphasized that a decrease in inflation and the stabilization of the investment environment are crucial for achieving the program’s objectives.

Avdagiç, who emphasized the importance of the conditions attached to incentives for plug-in hybrid electric vehicles (PHEVs) and electric vehicles, including a 51% local production plan, a minimum production capacity of 150,000 vehicles, and the establishment of R&D centers, stated that these conditions will ensure the return of incentives to Turkey.

“A Door Has Been Opened for Thousands of Jobs”

Avdagiç pointed out that the support and incentives provided by the HIT-Battery Call will open doors for thousands of jobs. “This is because the battery is perhaps the most crucial component of an electric vehicle. It is important for car manufacturers’ battery needs to be met by local producers. Additionally, this will pave the way for new professions related to batteries. Technological transformation is an absolute necessity. To achieve sustainable growth, we must develop high-tech-based production and export strategies,” he assessed.