Vestel Mobility took its place at IAA Transportation 2024 in Hannover, Germany, and exhibited its innovative electric vehicle charging stations, automotive electronics and energy storage systems, with sustainability at the forefront.
Vestel CEO Güler made statements to the press members at the fair regarding Vestel Mobility’s goals and investment plans.
Güler stated that Vestel is moving towards the goal of becoming a global player thanks to its advanced technology software, screen and charging solutions, and that mobility, which they have been investing in for many years, is an area they have defined as a new generation business area and established a strategy for.
Güler stated that they define “mobility” as the paradigm shift from internal combustion engines to electric vehicles.
Güler stated that 5 years ago, Toyota ranked first among the world’s most valuable automobile companies with a market value of $180 billion, Volkswagen ranked second with a market value of $80 billion, and Porsche ranked third with $70 billion, and noted the following:
“Today, among the world’s 3 most valuable automobile companies, number 1 is Tesla with 670 billion dollars. Number 2 is Toyota again with 240 billion dollars. That also increased from 180 to 240. Because they also have a perspective on electric vehicles. Number 3 is BYD, which was not in the top 10 5 years ago and will be our neighbor in Manisa, 90 billion dollars. Market value of 90 billion dollars, these were not in the top 10 5 years ago. Now in the top 3 with 90 billion dollars, the subjects are also changing in the paradigm shift.”
“Automotive has become more like consumer electronics than automotive”
“Automotive is no longer automotive but consumer electronics. Vestel is transferring its 40 years of experience, agility and quality to this field,” said Güler, continuing as follows:
“We have been making consumer electronics for 40 years. We come from the consumer electronics sector, what does this mean? We have the agility, speed but also the sensitivity of consumer electronics. In addition, our main export market is Europe and we have been working with Japanese customers for over 30 years. Therefore, we are fast and agile just like our Far Eastern competitors, but we can mass produce to European and Japanese quality standards. This is our advantage.”
Güler said the following regarding where they will stand in the paradigm shift in the automotive industry:
“For example, will we produce the battery of an electric vehicle? No, but we will produce the screen. Because when that screen is in your home, you call it a television. When the same screen is in a car, you call it a cockpit, dashboard, screen. For us, it is still a screen. Its hardware, software, design are no different from a television. When you look at what it is, its contrast ratio, its response time, transition times, it is no different from a television.
We also produce that wide screen at TOGG in our facilities in Manisa. Our engineers developed the hardware, software and experience of that product together. Because experience is also very important. In other words, if you have made hardware and software but do not design the experience correctly, all your efforts are wasted. Negotiations continue at the IAA fair. We will announce it soon. We will be expanding it with other global brands. In other words, TOGG has become a good reference. We will be sharing this screen experience with global brands whose names we will announce very soon.”
Aircraft screens will also be Vestel
Güler stated that the screens inside the aircraft will now be produced by Vestel, and noted that they have signed an agreement with a global airline company and will produce the screens for this company’s fleet of 300 units.
Güler stated that they will also produce “motherboard” products in the paradigm shift in the automotive industry, and said, “We have been doing this for 30 years. We also make these cards for electric cars. We will do it for others as well. We will make a statement after the fair with one of the international brands we talked to at this fair. We are not giving names. Because we have not reached an agreement yet.”
Explaining that they have been restructured to become an important player in the developing electric vehicle ecosystem, Güler stated that they are preparing to compete with brands such as Bosch, Continental, and Park Velio.
Güler, who stated that consumers who still buy electric vehicles have concerns about the “charging point” and “charging time”, said, “If your electric vehicle’s charger is Vestel, you don’t have to wait an hour. This is good news. The 720 kilowatt that we exhibited at this fair, the installation of which has started right now, we first started in Turkey but we have also made export agreements for Italy.”
Ergün Güler, stating that they offer the opportunity to charge from 20% to 80% in 8 minutes if the vehicle’s capacity is suitable, and that they are one of the rare companies in the world that can produce it at a mass production level, said, “There are 3 companies in the world that can do this. I am talking about 720 kilowatts. There are many that can produce 400 kilowatts. A 1,000 kilowatt product will come in January. We will be one of the 2 companies in the world that can produce it. Again, in the mass production logic. Don’t get me wrong. On that side. This will also be a vertical. It will create a growth area.”
Energy storage systems
Güler explained that the third area in Vestel’s vertical growth will be energy storage areas.
Güler, who stated that with the new law enacted in Turkey and Europe, when a renewable energy system is established, an energy storage system of equivalent capacity will have to be established, said, “On this continent, in this geography, the number of companies that can do this cannot be counted on the fingers of one hand. Hopefully, Vestel will be one of the solution partners there and it will be.”
“The market size that Vestel has set its sights on and wants to get the lion’s share of is 580 billion dollars”
Güler stated that according to Boston Counsulting’s figures, the size of the electric vehicle ecosystem will be 3 trillion dollars in 2030, and continued as follows:
“The size of the side we are interested in is $440 billion within this $3 trillion. The size of the electric vehicle charging station market projected for 2030 is $100 billion. The market size projected for energy storage systems is $40 billion. All together, it makes $580 billion. In other words, the market size that Vestel has set its sights on and wants to get the lion’s share of is $580 billion. Our goal is to create a value of a billion dollars within 3 years.
What does that mean? It doesn’t just mean making a turnover of 1 billion dollars. We are planning a billion-dollar public offering, God willing. We don’t have to make this public offering in Turkey. Maybe we can make it in America. Maybe we can make it in London. We have such plans. I am telling you the net figure to reach this. The turnover we need to reach is 600-700 million dollars. When we reach 15-20 percent EBITDA, God willing, we will see a valuation of 1 billion dollars. This is our most important target point in mobility.”
Güler emphasized that investments in the field of mobility are strategic for the country and made the following statements:
“Just as the TOGG investment for electric vehicles in Turkey is very strategic, the investment made here is also of critical importance for the country. Because there is a really big transition going on in the world right now. We had a place as a country, although not a major one, in the old automotive scene. Now we can play the major role here. Not only with electric vehicles, but also with electric vehicles, their supply ecosystem, their charging ecosystem and energy storage systems. Just as the country made a paradigm shift in the defense industry in many areas, I see the same opportunity here for the country. Therefore, I think that the investments made by Vestel and companies like Vestel in this area are very important for the future of the country.”
Chip industry
Explaining that the chip sector is one of the most strategic sectors in the world, Güler said, “We are already present in the software development of the chip. We are present on the software side of those chips for our products. Now we are planning the same for mobility. We are also planning a collaboration with chip manufacturers starting from the source in the software part.”
Ergün Güler, stating that the chip investment has a cost of billions of dollars, said, “What I see is that there is an initiative here as a country under the leadership of the Ministry of Industry. Maybe the state will do it again, something will be done there. Because it is a serious figure. It is not a figure that a private sector company can undertake on its own. Is it a very similar formation? It could be something like TOGG. Together with an international solution partner. Because there is also very serious know-how there. As you said, the state pioneered TOGG. When you look at it later, the state’s share is very small, in fact, none.”
Source: www.dunya.com
