# Turkey's wealth fund buys Togg stakes at $900 million valuation

_Published Tuesday, November 3, 2026 at 6:28 AM EST · Products · Latest · Tier 2 — Notable_

Turkey's sovereign wealth fund is buying stakes in electric carmaker Togg from two of its original investors, Bloomberg reported. The deals value President Recep Tayyip Erdogan's flagship industrial project at $900 million and shift those investors' holdings to the sovereign fund.

## Sources

- [Bloomberg Technology](https://www.bloomberg.com/news/articles/2026-11-03/private-backers-step-back-from-turkey-s-flagship-ev-project-at-800-million-valuation)

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Canonical: https://techandbusiness.org/newswire/QaAH_3cYvFKj1-oi28r8Fr
Published: 2026-11-03T11:28:58.462Z
Story chronology: 2026-11-03T09:39:15.000Z
Retrieved: 2026-11-03T14:00:06.197Z
Publisher: Tech & Business (techandbusiness.org)