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Vestel will become a global player in mobility and energy storage
Vestel, Turkey’s technology giant, brings together all mobility and energy storage projects, executed with significant investments over the last ten years, under a central organization called “Vestel Mobility”. Vestel CEO Ergün Güler said the company will focus on charging stations and automotive electronics in the electric vehicle industry, which is on track to grow by 30% annually, on average, as well as on charging systems. energy storage in batteries.
Istanbul, April 10, 2024 /PRNewswire/ — Vestel will combine years of mobility investment in the Turkish and European markets under the “Vestel Mobility” structure. With the goal of reaching a market capitalization of $1 billion in the next three years, the company has long been investing in mobility, a high-growth area in the future.
Vestel CEO Ergün Güler noted that by 2030, electric vehicles will reach a 45% share of global vehicle sales, creating significant opportunities in the automotive electronics sector, with an increase in demand for charging stations for electric vehicles. Güler explained that the advancement of the electric vehicle industry also advances battery technologies, creating high growth potential for the use of non-vehicle batteries. In turn, Vestel Mobility is focusing on AC/DC charging stations, automotive electronics and battery energy storage solutions to take advantage of this growth. Güler added: “Around the world, geopolitical transformations are occurring, accompanied by consequent technological changes. Vestel is closely monitoring these changes and investing in emerging areas. We have been investing in mobility and energy storage solutions for years, where we foresee a exponential growth. Leveraging our consolidated expertise in electronics, we have been manufacturing charging stations for electric vehicles since 2017 and exporting them since 2018. We already have a significant market share in Turkey and Europe.”
Electric vehicle market growing rapidly
Ergün Güler reminded that electric vehicles will soon become more popular: “At the end of 2023, electric vehicles accounted for approximately 12% of new car sales. This means that if 90 million vehicles are sold per year , approximately 10 million are electric vehicles. We expect this proportion to increase to between 40% and 45% by 2030. As the number of electric vehicles skyrockets, so will the market for electric vehicle components, reaching around $440 billion in 2030. According to Boston Consulting Group, shares in electric vehicles will reach 225 million in 2030. In direct correlation, the number of charging outlets will reach 124 million, corresponding to about $42 billion in market share Driven by average annual growth of 30% in the electric vehicle market, Germany is expected to maintain its position as Europe’s largest market, with the UK market also expected to expand significantly. Vestel is the largest manufacturer and exporter of electric vehicle chargers in Türkiye. We export to about 30 countries; “Germany, Italy, the United Kingdom and Spain are the main ones.”
We are the strategic supplier to the evolving vehicle ecosystem
Ergün Güler also highlighted that global technological progress is fueling a completely new automotive ecosystem: “Fossil fuel vehicle manufacturers and their suppliers are being replaced by electric vehicle manufacturers, and this new ecosystem gives way to new suppliers. This is a paradigm shift, and Vestel has positioned itself as a strategic supplier of this new ecosystem. We offer a full range of solutions for the automotive sector including R&D, design and manufacturing of vehicle displays, electronic control units, power electronics and connected solutions for vehicles. Vestel gained renown in products and services for cabin electronics, electrical and electronic installations and power transmission systems for electric vehicles.”
Vestel’s vehicle displays stand out for their mini-LED display technology that produces bright, vivid colors that are captivating. Aiming to deliver a world-class user experience to both drivers and passengers, Vestel combines infotainment screens into one in-cabin display.
“We manufacture storage systems for the renewable energy ecosystem”
Explaining that battery and energy storage systems are another key area of ??interest for Vestel Mobility, Güler noted: “At Vestel Mobility, all operations revolve around sustainability and the efficient use of resources is prioritized in all Our battery and energy storage systems follow the same principle and include battery solutions for the telecommunications industry and energy storage solutions for domestic, commercial and industrial environments, along with applications in wind and power plants. renewable solar. Energy storage systems for domestic and public use are becoming increasingly popular. In response to this growing demand, Vestel introduced its first 75 kWh and 300 kWh systems and plans to launch 5 MWh storage units for plants of solar energy in 2024. Currently, the global energy storage systems market size is estimated at 70-80 GWh. The market is expected to exceed 400 GWh in 2030. Consequently, the value of the energy storage systems market is forecast to reach $98 billion in 2030.”
Vestel’s quick-install energy storage designs integrate into existing infrastructure, providing efficient energy storage and a reliable power source with advanced lithium-ion battery technology. The container energy storage system, designed for both commercial/industrial use and renewable energy plants, offers a multifunctional and reliable solution to reduce costs and optimize energy use in the event of fluctuations in the electrical grid.
The experience in electronics is reinterpreted and transferred to mobility
Vestel effectively applies its extensive knowledge of software, hardware and design, acquired throughout its years in the electronics industry, to the mobility industry. Vestel launched its AC series for home and small business use in 2017 and expanded its portfolio with DC series for 60kW, 120kW and 150kW fast charging stations and 180kW, 240kW, 320kW ultra-fast charging stations. kW and 400 kW, which are now available at metered EV charging stations in public parking lots and electric fleet depots, reducing charging duration to between 10 minutes and 45 minutes.
With the planned launch of new lines of electric vehicle chargers with 720 kW sockets in 2024 and 1 MW in 2025, Vestel will include public electric transport and passenger car fleets in its portfolio.
Vestel has already installed more than 180,000 electric vehicle charging sockets in Turkey and almost 30 European countries and currently has numerous customers locally and globally.
“We are the shareholders and suppliers of TOGG”
Vestel CEO Ergün Güler stressed that Vestel now owns a 23% stake in the TOGG project, in which it first participated in 2017: “We aspired not only to be shareholders of TOGG, but also to be suppliers. And , currently, we are the manufacturers of TOGG’s distinctive all-round display. Our vehicles are equipped with mini-LED technology, a feature not usually found in electric cars. We channel our extensive knowledge in electronics into this field. Today, our contribution to the project relates to manufacturing, design, software and R&D.”
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