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TEMSA raises capital from parent companies to expand sales and product range

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By Jim Gibbins - 1st July 2021

Turkey – Bus and coach builder, Temsa SA of Adana, Turkey has received a capital injection of funds totalling TRL300m (USD34m) by its parent companies - Sabancı Holding (Istanbul, Turkey) and the PPF Group (Prague, Czech Republic) owner of Škoda Transportation – thereby increasing Temsa’s investment capital from TRL210m (USD24m) to TRL510m (USD59m).

Temsa intends to use the cash injection to expand its sales further throughout Europe as well as in North America and to work together with its ‘sister’ company, Skoda Transportation by sharing expertise and technologies to further develop electric and hydrogen fuel cell buses.

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