Seldom has a single industrialist embodied a nation's ambitions as distinctly as Fuat Tosyalı does for Turkey today. As chairman of Togg, the country's flagship electric vehicle maker, and BMC, the defense manufacturer behind the Altay tank, Tosyalı sits at the intersection of two transformative national projects. His recent remarks suggest both ventures are reaching critical inflection points in their commercial trajectories.
Togg, which delivered 39,020 vehicles domestically in 2025, now commands roughly 21 percent of Turkey's electric vehicle market. Tosyalı has indicated that the company is on a path toward profitability, with new models planned between 2027 and 2029. The anticipated entry of Turkey's sovereign wealth fund as a shareholder could further bolster the company's financial resilience and strategic positioning.
On the defense front, the Altay main battle tank has entered serial production at BMC's facility in Ankara. The plant boasts a monthly capacity of eight tanks, yielding up to 96 units annually at full output. Tosyalı has noted that allied nations in the surrounding region have expressed considerable procurement interest in the platform.
What underpins both ventures is Tosyalı Holding's deep industrial heritage in steel manufacturing. Founded in 1952, the conglomerate now operates across three continents with a production capacity exceeding 15 million tonnes. This vertical integration, spanning raw materials through advanced manufacturing, provides a formidable competitive advantage that few emerging-market industrialists can replicate.
Turkey's dual push into sovereign electric mobility and indigenous defense production reflects a broader strategic calculus. By reducing dependency on foreign technology and supply chains, Ankara aims to insulate its economy from geopolitical vulnerabilities. Whether Togg can scale exports sufficiently to sustain long-term profitability remains an open question, yet the trajectory suggests growing commercial viability.
