BAKU, Azerbaijan, Feb.4. The International
Finance Corporation (IFC) has announced its first financing for
Otokoç Otomotiv Ticaret ve Sanayi A.Ş. (Otokoç Otomotiv), a leading
Turkish automotive retail and car rental company, in a bid to
expand hybrid and electric vehicle adoption across Türkiye,
Trend reports
via the IFC.
The up-to-$150 million loan will help Otokoç modernize its
fleet, invest in new technologies, and support working capital
needs, while creating new jobs and strengthening local supplier
capabilities through knowledge transfer, the IFC said.
“Through this investment, we aim to advance cleaner and
low-emission mobility solutions while contributing to higher
standards and qualified employment across Türkiye’s mobility
ecosystem,” said İnan Ekici, CEO of Otokoç Otomotiv.
IFC Vice President and Chief Financial Officer John Gandolfo
highlighted the project’s potential to broaden access to modern
transportation and support the growth of Türkiye’s sustainable
mobility sector.
Founded in 1928 as part of the Koç Group, Otokoç Otomotiv
operates 302 points of sale, employs over 3,000 people, and runs
car rental operations in nine countries. Türkiye accounts for more
than 90% of its revenue, with a growing presence in regional
markets.
The financing marks IFC’s latest effort to support private
sector-led innovation and sustainability in emerging markets.
