Castrol Targets $60 Million Investment

Castrol Targets USD 60 Million Investment The MARKA Conference, held annually since 2000 and conducted for the past 19 years, commenced at Tersane Istanbul. In the post-pandemic period, drawing from the need to question and redesign business practices from scratch, the conference has been reframed with a 'remastered' theme this year, offering participants an entirely new experience.

Many brands participated in the conference, among them Castrol. Nilay Tatlısöz, Marketing Director and Director for Castrol Turkey, Ukraine and Central Asia, who spoke at the conference, made the following remarks on the subject:

"As a company, we are changing like the conference theme, transforming from an oil brand into a maintenance brand. We continue our investments and efforts with the aim of growing with our customers and business partners who are our solution partners. Additionally, we will be making an investment of approximately USD 60 million in an electric vehicle battery testing center and analytical laboratory to be established at our Pangbourne research center in the United Kingdom." Emphasizing that sustainability has been on their agenda for many years, Nilay Tatlısöz, Marketing Director and Director for Castrol Turkey, Ukraine and Central Asia, stated: "We offer solutions to consumers and our customers through our solutions that reduce our carbon footprint and provide energy efficiency in areas such as packaging made from waste. We continue to increase this recently. Electric vehicles are undergoing significant transformation. Currently, they are the fastest solutions for the world's sustainability goals. As a company, we have been working in engineering on the production of technologies related to electric vehicles for years. In two out of every three electric vehicles in the world, our products are present. In the sustainability journey of the world and humanity, we continue to work to elevate our efforts to the highest level. When determining this year's strategy, we particularly focused on sustainability and electric vehicles. It is impossible for us to consider these two topics separately. Because when it comes to sustainability in the automotive sector, we cannot exclude electric vehicles from the discussion."

USD 60 million investment in electric vehicle battery testing center

Stating that they place great importance on energy transition both globally and locally, Tatlısöz said: "At every step, we strive to undertake initiatives that go 'beyond oil'. We are working with our industry partners to implement next-generation technologies and accelerate the transition to electric vehicles. Electric and hybrid vehicles require high-technology fluids and greases just like vehicles with internal combustion engines. As a company, closely monitoring rapidly developing electric vehicle technology, we are increasing our R&D investments for new technologies and products. We will be making an investment of approximately USD 60 million in an electric vehicle battery testing center and analytical laboratory to be established at our Pangbourne research center in the United Kingdom," he explained.