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As we previously disclosed to the public, our company acquired a 75% stake in Joyce
Elektrikli Araç Teknolojileri A.Ş. as of March 25, 2024. With this acquisition, it was anticipated that different product groups would be included in our ongoing innovative projects in high technology. In this context, we announced our products and technologies to the public in a broadly attended press conference and launch event held on April 2, 2024. Following the completion of the merger process, work related to different product groups, especially electric vehicles, commenced promptly, and on June 28, 2024, we announced that these activities would be conducted under our subsidiary, E Cars
High Technology Araç Üretim Lojistik ve Depolama A.Ş
Due to the new regulations and additional taxes on electric vehicles that came into effect in Türkiye as of July 7, 2024, and based on an assessment of current production processes, it was concluded that continuing the electric vehicle project and related investments would not be economically viable. Consequently, our efforts in this area have been terminated.
As Agrotech Yüksek Teknoloji ve Yatırım A.Ş., we will continue our efforts globally to develop our artificial intelligence and technology product groups and remain committed to our investments in agricultural production and food production without interruption.
Respectfully submitted to the public.
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We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.