Zorlu Holding

Fuat Tosyalı has been elected as the new head of Türkiye's electric vehicle producer, Togg.

Tosyalı, who is also head of the Turkish conglomerate, Tosyalı Holding, replaces Rifat Hisarcıklıoğlu, who was at the helm of the company since 2018, according to a statement from Togg.

Hisarcıklıoğlu heads the Union of Chambers and Commodity Exchanges of Türkiye (TOBB).

Turkish energy company Zorlu Enerji has signed agreements to sell its stakes in three companies operating in Israel.

They are selling the stakes within the framework of Zorlu Group's investment policies and strategies, with the aim of focusing on renewable energy projects in the medium term, Zorlu Enerji said in a filing with Borsa İstanbul.

Turkey's Eti Maden Lithium Production Plant inaugurated in the country's central province of Eskişehir on Dec. 26 will help prevent annually $20 million lithium imports, Energy and Natural Resources Minister Fatih Dönmez said.

The foundation stone for Turkey's first domestic car plant will be laid in May with construction expected to take a year, its CEO said on Jan. 28.

Gürcan Karakaş of Turkey's Automobile Joint Venture Group (TOGG) said at a news conference in the country's industrial province of Kocaeli that the factory will start mass production in 2022 with an annual capacity of 175,000 units.

The European Bank for Reconstruction and Development (EBRD) stated on Dec. 6 that it is supporting the debut bond issuance by Zorlu Osmangazi, a subsidiary of Zorlu Energy and part of the Turkish conglomerate Zorlu Holding, in a new 70 million-Turkish Lira (15 million euro) capital markets transaction.

Turkey's Zorlu Energy has signed a memorandum of understanding (MoU) with Palestine's electricity distribution company JDECO for the construction and operation of solar power plants to provide electricity to Palestine, the company announced on July 19.      

Turkey is a step closer to building two solar power plants in Pakistan after receiving the necessary pre-licenses, Turkey's Zorlu Energy Electricity Generation Company announced on July 18.      

Zorlu Energy, via its subsidiaries Zorlu Sun Power Limited and Zorlu Renewable Pakistan Limited, will develop two solar power plants, each with 100 megawatts in capacity.      

Shares in Turkey's Zorlu Energy, which is involved in energy projects in Israel, surged as much as 10 percent on Dec. 18 after an Israeli official said a preliminary deal had been reached with Turkey to normalize relations.

The announcement, which comes at a critical time for both countries, could have widespread implications, particularly when it comes to energy.