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Vestel Ventures has invested in Splitvolt, a US-based company developing innovative solutions making electric vehicle charging more accessible and simplifying EV charging.
Santa Clara, California and Şişli / Istanbul – Splitvolt and Vestel announced that Vestel has added a new one to its investments in the field of mobility, where it expects exponential growth in the coming period. Vestel Ventures, Vestel's venture capital company, has become an investor in Splitvolt, an energy efficiency and electric vehicle charging solution provider in the United States.
Burak Aydın, President of Zorlu Holding's Technology and Business Development Group, stated that as the world rapidly evolves with digitalization, artificial intelligence, and innovation, Zorlu Group is leading this transformation under the guidance of Smart Life 2030.
Referring to their long-term investments in startups through Vestel Ventures, Aydın noted, 'In line with this, we continue to make strategic investments in global partnerships and key growth areas. Most recently, we invested in the U.S.-based Splitvolt to bolster Vestel’s position in the electric vehicle ecosystem and mobility space. This investment aims to drive Splitvolt’s sales expansion and strengthen its market footprint.'
Ender Yüksel, General Manager of Vestel Mobility, underlined that the new investment further strengthened Vestel Mobility’s presence in the field of electric vehicles: “This investment paves the way for Vestel Mobility to enter homes in the US in the upcoming period. Our cooperation with Splitvolt will allow us to offer Vestel Mobility products to the American market faster and more effectively.”
Splitvolt Inc. Founder and CEO, Daniel Liddle, said “Splitvolt is pleased to establish this strategic commercial and investment partnership with Vestel, including Vestel Mobility and Vestel Ventures. Over the past year of working together on vetting and the strategic partnership, I’m impressed with the vision, drive and leadership throughout the organization. It is clear how Vestel has established themselves as a successful multi-billion-dollar global business across Europe and beyond. This bi-lateral partnership provides technology synergy and tremendous new market expansion opportunities for both companies.”
Splitvolt Splitter Switches and EV chargers are widely used by tens of thousands of customers across the United States and North America. The company develops technology and offers a wide and ever-growing range of power access and electric vehicle charging products initially center around compelling value and simplified Level 2, 240 volt power access for EV charging.
Splitvolt’s innovative flagship product is a smart, intelligent Splitter Switch™ appliance saving EV owners money by eliminating the need for costly, complex new circuit installation. It automatically and safely shares an existing 240V clothes dryer circuit with a Level 2 EV charger. It takes one minute to plug in, saving thousands of dollars and time vs. new installation.
About Vestel Mobility:
Vestel Mobility was established as the culmination of more than a decade of investments in mobility and sustainable energy by Vestel, one of the world's leading technology manufacturers. Developing the technologies of the future with electric vehicle chargers, automotive electronics and energy storage solutions, the company combines Vestel's deep-rooted know-how and engineering strength in this field with a new vision.
The Company supports the widespread adoption of electric vehicles by developing innovative AC and DC chargers in the field of EVC. It also offers renewable energy solutions by developing Türkiye’s first domestic battery energy storage systems. A strong player in automotive electronics, Vestel Mobility has developed the display systems for Togg, Türkiye’s domestic electric car.
As Türkiye’s largest manufacturer and exporter of electric vehicle chargers, Vestel Mobility exports its products to nearly 30 countries while reinforcing its leadership in the sector as a member of the European Energy Storage Association (EASE).
Driven by its goal of becoming a global player, the Company contributes to sustainability and energy efficiency with its innovative technologies.
For more information, please visit vestelinternational.com
About Splitvolt
With tens of thousands of customers across North America, Splitvolt is an award-winning U.S. Corporation whose mission is to enable savings and power efficiency through intelligent energy management solutions. It all starts with empowering Electric Vehicle adoption™ via their innovative products such as their smart, intelligent Splitter Switches™ and expands more broadly into EV charging and home energy management-related partnerships and solutions. All to make it simpler and more cost-effective for everyday consumers and car buyers to benefit from electric vehicle use in daily life. Learn more at http://www.splitvolt.com
Public Relations
Splitvolt, Inc.
[email protected]
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