Taiwan and Turkey to cooperate in EV development and manufacturing
14 June 2023 12:52
In order to strengthen exchanges between automobile-related industries, business associations from Taiwan and Turkey signed a memorandum of understanding (MOU) to promote cooperation in the fields of electric vehicles (EVs) and auto parts. The MOU was signed by the Taiwan Transport Vehicle Manufacturers Association (TTVMA) and by Turkish Electric and Hybrid Automobile Association (TEHAD) on June 9 at the Automechanika fair in Istanbul, Turkey.
According to the press release issued by Taiwan's Representative Office in Turkey, Representative Mr Huang Zhi-yang said at the signing ceremony that the exports of auto parts and other related products from Taiwan to Turkey reached a value of NT$1 billion (30.18 million euros) in 2022. He also pointed out that Turkey is the 5th largest auto manufacturer in Europe and the 13th largest in the world, while Taiwan was one of the top suppliers of car parts. There is a lot of room for mutual benefits.
At the signing ceremony, Mr. Michael Chen, Secretary General of the Association of Vehicle Manufacturers (TTVMA), said that the European Union will start the EU Carbon Boundary Adjustment Mechanism (CBAM) in October this year, and will soon impose a carbon tax. He also mentioned that more than 130 countries in the world, including Taiwan, have set a goal of “net-zero carbon emissions”, which will have an impact on the automotive industry, especially as most countries are implementing low-carbon vehicle regulations and setting a timeline to end the sale of new vehicles with fuel. Taiwan has an advantage with many manufacturers of automotive chips and electronic components.
Turkey just launched its own first electric car, the Togg T10X, this year, while Taiwan is also developing EV buses and cars. The automotive industries of the two countries could complement each other, and the future cooperation between the two sides in the supply chain has a great business potential, according to the trade office. By working together, both countries will be able to develop an energy efficient, environmentally friendly and intelligent electric vehicle. ce/cy