IFC Backs Otokoç to Accelerate Electric and Hybrid Mobility in Türkiye

The International Finance Corporation (IFC) has announced its first financing for Otokoç Otomotiv Ticaret ve Sanayi A.Ş., a leading automotive retail and car rental company in Türkiye, aimed at accelerating the adoption of hybrid and electric vehicles and strengthening the country's mobility sector.

The investment is expected to create new jobs and expand employment opportunities, while also delivering broader economic benefits through value addition, skills development and knowledge transfer across the automotive supply chain.

Boost for Clean and Affordable Mobility

By expanding the availability of electric and hybrid vehicles for both short- and long-term rental, alongside its automotive retail operations, Otokoç Otomotiv aims to make cleaner and more advanced mobility options more accessible and affordable for consumers.

The initiative responds to growing demand in Türkiye for efficient, modern and low-emission transportation, while helping lift service quality and performance standards across the wider transport ecosystem.

Economy-Wide Benefits Beyond Jobs

In addition to direct employment gains, the project is expected to generate wider spillover benefits by supporting local suppliers to:

• Upgrade technical skills

• Adopt higher operational and environmental standards

• Improve productivity and efficiency

These gains are expected to strengthen Türkiye's automotive and mobility value chains over the medium to long term.

A Milestone Partnership

Otokoç Otomotiv CEO İnan Ekici described the financing as a key milestone for the company.

"Our first collaboration with IFC marks an important step in our long-term growth journey and our ambition to shape the future of mobility," Ekici said."This investment reflects confidence in our nearly century-long operational heritage, strong financial governance and commitment to sustainable value creation."

He said the financing will help Otokoç advance low-emission mobility solutions, raise employment quality, and deliver modern, environmentally responsible transport services across its markets.

IFC Expands Footprint in Türkiye's Mobility Sector

IFC Vice President and Chief Financial Officer John Gandolfo said the investment demonstrates how private capital can support sustainable transport transitions.

"By supporting access to modern transportation and local employment, we aim to drive progress toward a more sustainable and innovative mobility sector in Türkiye," Gandolfo said."This is IFC's first investment in Otokoç and expands our footprint in the automotive industry."

IFC said the partnership aligns with its broader strategy to support climate-friendly investments, private sector growth and job creation in emerging markets.