Industry experts estimate that Togg needs to sell around 200,000 cars annually to become profitable, underlining the need for the EV maker to expand outside its home market.Electric vehicle startup Togg unveiled a new sedan on Monday and said it would launch sales in Europe starting with Germany as the Turkish automaker sought new profit avenues by tapping into the region’s largest, highly competitive car market.
Togg announced the European launch of its T10X electric SUV, and unveiled the T10F, an electric five-door sedan. Orders for both vehicles will start in Germany at the end of September.
Pricing details were not disclosed for either model.
Togg sold around 30,000 of its T10X electric SUV cars in Turkey last year, its first full year of deliveries. Its sales this year through August were up 42 per cent at around 21,000 units.
Industry experts estimate that Togg needs to sell around 200,000 cars annually to become profitable, underlining the need for the EV maker to expand outside its home market.
Several other EV startups, including Fisker, Lordstown and Arrival, have failed elsewhere, though investors continue to fund some of these loss-making operations.
VinFast’s founder has poured money into the Vietnamese EV maker, buying its R&D arm for $1.52 billion as it tries to break even by the end of 2026.
US EV maker Lucid has received around $8 billion from Saudi Arabia’s Public Investment Fund, and Volkswagen’s $5.8 billion investment in Rivian has been a lifeline for the US startup.
