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In line with its smart mobility vision, Vestel Elektronik continues its investments in automotive electronics applications, electric vehicle chargers and battery solutions. The Company's application for the Digital Transformation call under the Technology Oriented Industry Action Programme of the Ministry of Industry and Technology of Türkiye for its automotive investments planned to be undertaken in its existing facilities in Manisa Organized Industrial Zone has been accepted and accordingly, Vestel Elektronik received an investment incentive certificate as of June 2023 for its Automotive Display Solutions and Connectivity Devices project.
The aim of the project is to develop display equipment for in-vehicle infotainment (IVI), automotive boards and mobility products. The duration of the project is 52 months.
The incentives provided under the Investment Incentive Certificate are as follows (Category: Strategic Investments).
a.
VAT Exemption and Refund
b.
Customs Duty Exemption
c.
Corporate Tax Reduction
d.
Social Security Premium Employer's Share Support
e.
Social Security Premium Employee's Share Support
f.
Income Tax Withholding Support
g.
Interest or Dividend Support
Vestel Elektronik aims to expand its investments in the automotive sector in line with its evolving customer portfolio and product range.
This statement was translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.
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