This year, Vestel, which participated in the International Consumer Electronics Fair (IFA 2024) for the 32nd time, presented the products developed by its new company Vestel Mobility to the visitors. During the fair, Vestel CEO Ergün Güler highlighted the radical transformations in the mobility sector in his keynote speech titled ‘Paradigm Shift: Mobility’, which he presented to leading companies from around the world, international press, and visitors.
Güler emphasized Vestel’s goal of exponential growth in the mobility market alongside its target of doubling its conventional business areas in three years. He mentioned that by 2030, the global mobility market is expected to reach a size of approximately $580 billion, focusing on electric vehicle components, electric vehicle charging stations, and energy battery storage solutions where Vestel operates. Vestel Mobility aims to achieve exponential growth in this market and plans to increase the market value of Vestel Mobility to over a billion dollars in the next three years.
Discussing the rapid paradigm shift in the mobility market in recent years, Güler pointed out that the development of a new car used to take four years, but now it has been reduced to two years, with manufacturers in the Far East able to accomplish this in six months. He highlighted how the engineering power and knowledge base in consumer electronics in the Far East have been redirected to the electric vehicle sector. This transformation in the automotive industry has led to a change in the game players and the primary supplier system in the sector.
Vestel has been involved in the TOGG project since 2017 and currently holds a 23% share. Güler mentioned that Vestel not only is a shareholder in TOGG but also serves as a supplier. Vestel produces the distinctive screen of TOGG using mini LED technology, showcasing their expertise in the electronics field. They are actively supporting the TOGG project in manufacturing, design, software, and R&D areas.
Güler also highlighted the increasing popularity of storage solutions for renewable energy sources such as solar and wind in many countries worldwide. He mentioned that many users in European countries store energy during the day using solar panels and utilize it in their homes in the evening, leading to significant energy cost savings and environmentally friendly solutions. Vestel Mobility produces energy storage systems for telecommunications, residential, commercial/industrial, and renewable solar/wind power plants. They have introduced products like the 75kWh and 300kWh units for both residential and mass usage in this field. They are also preparing to launch 5mWh storage units for solar/wind power plants this year.
Güler emphasized that Vestel’s energy storage designs offer quick installation and seamless integration with existing infrastructures, providing efficient energy storage and reliable power sources with advanced lithium iron phosphate battery technology.