Türkiye’s domestic electric vehicle brand, Togg, has achieved a profit for the first time since its establishment. According to Turkcell’s first-quarter financial report for 2026, shared with the public on 11 May 2026, Togg, listed under the "Investments Accounted for Using the Equity Method" (Affiliates) item, announced a net profit of 1.3 billion TL in the first quarter of 2026.
According to the results, Togg's consolidated net asset value was recorded as 4.22 billion TL as of 31 March 2026. Experts suggest these figures indicate that the brand has transitioned to operational profitability following a long period of R&D and investment.
The Road to Profitability: 2024 and 2025 Losses
According to Turkcell's financial data from previous periods, Togg reported losses in its early years due to intensive investment expenditures. The company closed 2024 with a net loss of 13.75 billion TL and 2025 with a net loss of 14.61 billion TL.
In this context, the 1.3 billion TL profit obtained in the first quarter of 2026 is considered a significant turning point in Togg’s financial performance. It is believed that increased production volume, cost optimisation, and rising sales figures were effective in the transition to profitability.
Rise in Sales and Market Share
The improvement in Togg’s financial performance is also reflected in its sales figures. According to 2025 sales data from the Automotive Distributors and Mobility Association (ODMD), the T10X model in the C-SUV segment succeeded in becoming one of the top 10 best-selling cars in 2025, reaching a sales figure of 27,583 units.
It is stated that this momentum continued in the first months of 2026, and the zero-interest financing campaigns announced by the brand particularly in March and April kept demand active.
The Upcoming Period: B-Segment Move
In this period of financial profitability, Togg is preparing to expand its product range. The company recently signed a strategic cooperation agreement with CAIT, a subsidiary of the world's largest battery manufacturer, the Chinese firm CATL.
Within the scope of this partnership, three new B-segment vehicles, expected to be positioned at a more affordable price point below the C-segment, are planned to be progressively launched starting from 2027. These models are aimed to be sold at approximately half the price of the current T10X and T10F series.
With this move, Togg is expected to further expand its market share and increase its profitability.
