At the IAA Transportation, the Turkish electronics group Vestel has announced that it intends to bring its expertise in the areas of software, hardware and design from its many years of core activities in the electronics industry to the mobility sector.
To this end, the firm is bundling its mobility and energy storage projects under a new umbrella organisation called Vestel Mobility.
With a new product line called EVC, Vestel is increasing its range to 720 kilowatts chargers this year.
The company also announced the introduction of a megawatt charging system (MCS) for 2025.
According to Vestel, it already works with eight of the ten largest charge point operators (CPOs) in Europe.
In 2017, the Turkish company initially launched an AC charger series, followed by DC and HPC chargers. And Vestel has been present on the German market for four years.
According to the firm, which is already known in Germany via a partnership with Webasto, more than 180,000 charging points have already been installed in Turkey and almost 30 European countries.
With its increased focus on the mobility domain, the company expects to achieve a market capitalisation of over one billion dollars in the next three years.
According to Ergün Güler, CEO at Vestel, the market for electric vehicle components will grow massively with the increasing number of electric vehicles, to “around 440 billion dollars by 2030.”
“Driven by the average annual growth of 30 per cent in the electric vehicle market, Germany is expected to retain its position as the largest market in Europe. We see great potential here,” Güler said.
Vestel’s aim is to become one of the biggest charging system providers in the German market.
The CEO also sees new opportunities in the electrification of logistics fleets and in the growing number of electric trucks.
Read more: Initial challenges of MCS in eTrucks: How to resolve communication issues in chargers?
