Temsa owners more than double the manufacturer’s capital

The owners of Temsa have decided to increase the Turkish bus manufacturer’s capital fund by more than 143% to 510 million Turkish lira (TL), the equivalent of more than $60 million U.S.

The infusion of money from owners Sabancı Holding and the PPF Group comes as Temsa continues to increase its exports, the company announced. 

“We are strengthening our capital to have Temsa attain a stronger and more competitive financial structure in both domestic and foreign markets,” said Cevdet Alemdar, Industry SBU President of Sabancı Holding and Chairman of the board of directors of Temsa.

Temsa’s export sales have surged in Europe.

Temsa Transportation Vehicles continues its growth in both domestic and international markets, through the partnership of owners Sabancı Holding and the PPF Group, in which Skoda Transportation acts as its subsidiary, reinforcing its capital position. 

Temsa sales surge

Alemdar noted export sales have surged in Europe, especially in Sweden, Belgium, France and Czechia.

 “We consider these export moves as the first step of a new success story that Temsa will write. With the support of our new organizational structure, we have gone through a period in which we will achieve greater success in foreign markets,” he said.

“Today, Temsa is a brand that has proven itself in the field of electric buses and autonomous vehicles. We exported our first electric bus to Sweden in recent months,” said Alemdar.

Worldwide benefits

He added the company is benefiting worldwide from its electric vehicle technology, which includes software and batteries.  

“Skoda Transportation, which operates under the roof of our partner PPF Group, has substantial global experience in electric transportation solutions. This know-how will pave the way further for Temsa to expand its product range and markets in the forthcoming period. Hence, we aim to reinforce Temsa’s leadership in new-generation electric vehicles and fortify its growth, ” Alemdar said.

Ladislav Chvatal, PPF Group Chief Officer for Strategic Projects, highlighted the synergy between Temsa and Skoda Transportation in TEMSA’s future growth plans.

“PPF Group has invested in Temsa, aiming to utilize its synergies with Skoda Transportation and provide a boost for both companies as they expand on international markets. PPF is therefore delighted that TEMSA and Skoda Transportation have been attracting major customers around the world for their modern and environmentally-friendly mass transport solutions,” Chvatal said. “The contributions of Skoda Transportation are electric and hydrogen fuel cell buses.”


Share this post