Turkey’s automotive sector ranks 5th in Europe as trade minister launches mobility fund

Turkey’s automotive industry has risen to become the 13th largest vehicle producer worldwide and the fifth‑largest manufacturer in Europe, according to Trade Minister Prof. Dr. Ömer Bolat. Over the past 55 years the sector has expanded rapidly, achieving 19 export‑champion titles in the last two decades and recording $41.5 billion in vehicle exports last year – about 15 % of Turkey’s total goods export.

Bolat announced the creation of the OIBVentures Mobility Innovation Fund, a joint initiative of the Automotive Industry Exporters’ Association (OIB), Turkey’s Development and Investment Bank (TKYB) and the Turkey Development Fund (TKF). The fund will provide financial and strategic support to supply‑chain projects, R&D and design‑focused start‑ups, and will target the electric‑vehicle ecosystem and other innovative mobility ventures.

He emphasized that Turkey’s annual production capacity of roughly 1.4‑1.5 million vehicles and a comparable sales market should not be overlooked by global players, and highlighted the country’s strong infrastructure, skilled workforce and engineering capabilities as the drivers of its leadership in bus and light‑commercial vehicle segments in Europe.