Alarko Signs An Investment Agreement Shaping The Future Of The Energy Sector

Alarko Holding has taken a significant step in shaping the future of the energy sector as it continues to realize new investment initiatives following its strategy of creating sustainable value for the economy, society, and the planet. Altek Alarko, a subsidiary of the Holding, has entered into a joint venture with Gotion Group, one of the world's leading technology and battery manufacturers, to establish a production line in Turkey to produce energy storage systems and lithium-ion batteries.

Alarko Holding sustains its investments in renewable and sustainable energy with its vision of operating as an active player in Turkey's green transformation journey. Altek Alarko, a subsidiary of the Holding, has signed a joint venture agreement with Gotion Singapore Pte Ltd, a subsidiary company within the Gotion Group, one of the world's leading technology and battery manufacturers. The agreement aims to establish a production line in Turkey for producing energy storage systems and lithium-ion batteries at a later second stage, which are regarded as integral elements of renewable energy investments in the coming years.


This cooperation is critical in Turkey's transition to a green economy, which follows the country’s net-zero targets. It will empower Turkey to produce and develop energy storage technologies, which are crucial in balancing energy supply and demand. The joint venture with Gotion Group, in which German automobile manufacturer Volkswagen Group holds an approximately 24% stake through its joint venture in China, covers the investment in an assembly plant for energy storage systems and a lithium-ion battery production plant at a later second stage to be established in Turkey. The plant will produce battery systems, especially at grid scale. These systems will also be used in commercial and residential energy application.  The investment will also contribute to the increase in foreign direct capital inflow to the country. 


Ümit Nuri Yıldız, CEO of Alarko Group of Companies: “We are pleased to make a solid contribution to the low-carbon economy with this significant investment bringing high technology to our country’s energy storage journey”

Commenting on the agreement that will make Turkey a global player in producing battery technologies, Ümit Nuri Yıldız, CEO of Alarko Group of Companies, stated: “At Alarko Holding, we have been continuously working and producing for 70 years to put our stamp on the robust future of our country. Today, we are bringing high technology in the energy storage field to our country with our joint venture with Gotion Group, one of the world's leading technology and battery manufacturers. We are pleased to make a solid contribution to the low-carbon economy. Energy is strategically important to our country, and energy storage technologies will play a determining role in reducing foreign dependence on energy, preventing energy crises, and ultimately realizing our country's net-zero target. With our new investment, we will significantly contribute to the system's balanced electricity supply using renewable energy sources and eliminate imbalances in the transmission and distribution systems. This agreement indicates international investors' confidence in Alarko Holding and our country's future. I thank Hakan Aytekin, General Manager of Altek Alarko, and all our colleagues for their contribution.”


Altek Alarko to hold a 60% stake in the new company to be established in Turkey


Within the scope of the cooperation bringing together Alarko's engineering competence in Turkey with Gotion's technical know-how in battery technologies, Altek Alarko will hold 60% of the shares, and Gotion Singapore Pte. Ltd. will hold 40% of the shares in the new company to be established in Turkey.
Alarko Group will take firm steps forward in line with its global growth targets with this agreement and contribute to producing value-added products and providing qualified employment by bringing high technology to the country. Exporting energy storage solutions to Europe, Central Asia, and Africa is also one of Alarko's prioritized targets.