By Azernews

By Vugar Khalilov

Turkey’s Automobile Enterprise Group (TOGG) has launched an eco-friendly SIRO Silk Road battery producing company, Yeni Shafak newspaper reported on September 30.

On its official Twitter account, TOGG reported that the SIRO Silk Road Clean Energy Solutions Company will contribute to the technological transformation of the mobility ecosystem in Turkey.

"We have achieved another strategic development that will contribute to the technological transformation of the mobility ecosystem in our country and we have established SIRO Silk Road Clean Energy Solutions Industry and Trade Inc," the report added.

The company will produce battery modules and packages for domestic cars, which will efficiently decrease the foreign dependency on energy, the report added.

Under the agreement signed between TOGG and USA-based Farasis in 2020, SIRO and Farasis will collaborate on the production of vehicle batteries.

Turkey's Automobile Joint Venture Group Inc. (TOGG) is an automotive company founded as a joint venture in 2018. Anadolu Group, BMC Turkey, Kok Group, Turkcell, and Zorlu Holding are major stakeholders under the umbrella institution TOBB. In the joint venture, TOBB has a 5-percent share and other companies own 19-percent shares for each.