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Turkey and Qatar launch a $60 Million joint investment in chip production
Semiconductor manufacturing
Turkey and Qatar have initiated a partnership to begin semiconductor production, a development shared by the Turkish Industry and Technology Minister, Mehmet Fatih Kacir. This substantial investment, involving Qatar’s shift of its 65-nanometer chip production to Turkey, is projected to exceed $60 million in value.
According to Minister Kacir, the collaboration underlines Turkey’s industrial strategy to attract international investors to its growing semiconductor industry.
This strategic move aligns with global trends and Turkey’s drive to boost investments in cutting-edge sectors, such as hybrid and electric vehicles. The nation’s goal isn’t merely to increase its export capacity but also to cater to the rising domestic demand for these vehicles, the Minister explained.
The ambitious objective to produce one million units of its homegrown electric vehicle brand, Togg, by 2032, signifies Turkey’s commitment to become a prominent player in the electric vehicle industry. In a move closer to this goal, Turkey aims to manufacture five different models of these vehicles under the banner of Turkiye’s Automobile Joint Venture Group, or TOGG.
TOGG, which unveiled the country’s first electric vehicle prototype in December 2019, has already kick-started this venture. The company introduced its flagship model, the T10X, to the local market, aiming to deliver 20,000 units of electric cars by the year’s end.
Buyers have the option to choose between two versions of the T10X, the 160 kW (218 horsepower) model with rear-wheel drive, which provides a range of either 314 kilometres or 523 kilometres, depending on the battery option selected. The first model can accelerate from 0 to 100 km/h in 7.6 seconds.
The second version, offering a whopping 320 kW (435 horsepower) and featuring all-wheel drive, will be launched on October 29. This version can reach from 0 to 100 km/h in a swift 4.8 seconds.
Additionally, the T10X’s batteries are fast-charging enabled. They can be recharged from 20% to 80% capacity at fast-charging stations in less than 28 minutes.
This joint venture between Turkey and Qatar thus combines innovation in the semiconductor industry with advancements in electric vehicle production, positioning Turkey as a rising powerhouse in both sectors.
