IFC Invests €100m in Doğuş Otomotiv to Accelerate Türkiye’s EV Transition

The loan will support Doğuş Otomotiv in scaling up purchases and distribution of EVs, alongside continued investments in sales and maintenance infrastructure.

The International Finance Corporation (IFC) has announced a €100 million loan to Doğuş Otomotiv Servis ve Ticaret A.Ş., one of Türkiye’s leading automotive distributors and retailers. The financing aims to expand the availability of electric vehicles (EVs) in Türkiye, foster skilled job creation, and promote sustainable growth in one of the region’s most dynamic automotive markets.

Driving Sustainable Mobility in Türkiye

The loan will support Doğuş Otomotiv in scaling up purchases and distribution of EVs, alongside continued investments in sales and maintenance infrastructure. By increasing access to EVs, the project seeks to:

• Reduce reliance on imported fossil fuels, easing pressure on Türkiye’s energy security.

• Lower greenhouse gas emissions, contributing to national and global climate goals.

• Make sustainable mobility more accessible to consumers and businesses across the country.

“This collaboration with IFC reflects global confidence in Doğuş Otomotiv’s environmental and social performance,” said Kerem Talih, Chief Financial Officer of Doğuş Otomotiv. “The loan will enable us to accelerate our investments and lead the development of Türkiye’s electric vehicle ecosystem.”

IFC’s Role in Promoting Green Growth

The investment is IFC’s first partnership with Doğuş Otomotiv and underscores its long-standing commitment to Türkiye’s private sector development.

“This collaboration marks the beginning of our partnership with Doğuş Otomotiv, reflecting IFC’s ongoing commitment to supporting the development of Türkiye’s automotive sector,” said Ashruf Megahed, IFC Regional Industry Head for Manufacturing, Agribusiness and Services in the Middle East and Central Asia. “By helping to expand the availability of electric vehicles and foster local job creation, we are promoting sustainable growth and innovation in Türkiye’s automotive industry.”

Türkiye’s Automotive Sector: A Regional Powerhouse

Türkiye’s automotive retail market is among the largest and most competitive in the Middle East, Central Asia, and surrounding regions. The country has built a strong reputation in both automotive manufacturing and distribution, making the shift to electric mobility a critical next step for maintaining competitiveness.

• The transition to EVs presents new opportunities for workforce development, particularly in areas such as battery maintenance, charging infrastructure, and advanced diagnostics.

• Traditionally, automotive retail has been dominated by low-skilled jobs, but the EV shift is expected to create higher-skilled, better-paying positions.

• With rising consumer interest in green mobility, Türkiye has the potential to become a regional leader in EV adoption.

Building a Greener Future

Doğuş Otomotiv’s expansion into the EV market aligns with Türkiye’s broader sustainability agenda, including its commitment to reducing carbon emissions and improving energy efficiency. The company’s investments will also help strengthen local supply chains, expand service networks, and ensure that customers receive reliable after-sales support for new EV technologies.

By leveraging IFC’s financing, Doğuş Otomotiv will not only help grow the EV market but also set higher sustainability standards for the entire automotive sector.

A Model for Regional Transition

As more countries in the Middle East and Central Asia explore pathways to electrify transport, Türkiye’s experience could serve as a model. The combination of private sector investment, global financial support, and policy alignment provides a roadmap for other nations seeking to balance economic growth with climate action.