Turkey – Having sold 540 e-buses in 2024, Turkish bus manufacturer Karsan Otomotiv Sanayi ve Tic AŞ (“Karsan”) turned over EUR 296 million, according to its 2024 financial results (2023: EUR 240 million). The company recorded a 28% rise in profitability from 2023, and turnover rose from EUR 106 million in 2023 to EUR 161 million in 2024, an increase of 52 percent!

Operational highlights

2024 was a year of market expansion with entry into the Japanese market, delivering its first batch of right-hand drive e-Jest electric minibuses following a distribution agreement with ALTECH Co Ltd. This marked the first right-hand drive vehicle in the company's history. Karsan plans to accelerate production of its right-hand drive vehicles in 2025, as it looks to enter the UK market through a Horsham-based dealer, EVM UK Ltd. We confirmed this at the 2024  Euro Bus Expo, held at the NEC in Birmingham, where the company unveiled its right-hand drive electric minibus (the 6-metre e-Jest) to British consumers. Two demonstration models were delivered to EVM earlier this year, with the order book now open.

Staying with expansion, the company broke into the Austrian market after delivering six e-ATAK electric buses to M. Partsch Verkehrsbetriebe GmbH in Eisenstadt, marking their first e-bus deployment in Austria. To support its operations there, Karsan established a service and parts network through its authorised service partner, NEKI GmbH, based in Vienna.

Moving on to projects, at the 2024 IAA Transportation event last year, Karsan announced a fuel cell partnership with Toyota Motor Europe NV/SA to develop hydrogen-powered buses. Building on its hydrogen innovations since 2022, Karsan plans to launch its first hydrogen fuel cell vehicles (the e-ATA Hydrogen) in 2025. These vehicles will be equipped with Toyota’s state-of-the-art 85 kW fuel cell modules, providing significant power and range.

Finally, we have heard rumblings that Karsan is planning to enter the intercity electric bus market with a low floor (the first Class 2 model from the OEM). Whilst details are scant, T&BB reached out to Güliz Şengör, Marketing Communications Manager at Karsan, who told us: “We are planning to introduce our e-ATA Class II version to the market in 2025, derived from our existing 12-metre e-ATA Class I model. There will be no changes to its exterior design or dimensions. Our 12-meter e-ATA Class II model is designed for short-distance intercity travel and urban public transportation routes, catering to passengers who prioritise seating arrangements. With its low-floor entry at the front and middle doors, it ensures easy access for elderly individuals, children, and those with mobility limitations. The bus offers a comfortable travel experience with all forward-facing seats. Additionally, upon request, a limited dedicated luggage area can be provided within the passenger cabin.”

Autonomous bus development

The Karsan Level 4 autonomous e-ATAK may be the jewel in the Turkish bus OEM's crown when it comes to future proofing its business. After becoming the first autonomous (level 4) e-bus in Switzerland and Finland in 2023, Karsan achieved the same feat in Sweden. The autonomous bus is set to start carrying passengers in Gothenburg between Central Station and the Liseberg Station in August 2025. US San Francisco-based technology partner, Adastec, which designed the automated driving software (flowride.ai), has worked closely with Gothenburg's transit agency to integrate its software with the city’s infrastructure, creating a safe and viable route through the city.  This will allow the bus to travel without a driver on a planned route at speeds of up to 40 kilometres per hour.

Strengthening dealer and aftermarket network

A strong aftermarket network is essential for sustainable OEM growth, as demonstrated by Karsan’s strategic moves in 2024. The company bolstered its European presence through a key partnership with French dealer Cosmobilis Group, which will play a pivotal role in expanding Karsan’s footprint in France, Belgium, Luxembourg, and Switzerland. Beginning in mid-2025, Cosmobilis Group will import Karsan’s electric buses, enhancing sales and after-sales services while leveraging its industry expertise. As part of this partnership, Cosmobilis has acquired an 80% stake in HCI, Karsan’s distribution arm in these regions.

Further strengthening its European expansion, Karsan took full ownership of Spanish dealership E-buskar, reinforcing its position in the Spanish market. Since entering Spain in 2022, Karsan has deployed 41 buses across 19 cities. Integrating E-buskar into its operations has allowed the company to streamline dealer collaboration in public transportation sales, after-sales services, spare parts, and used vehicles. This move is expected to enhance aftermarket support for its growing Spanish customer base.

Karsan also expanded in Italy through a distribution agreement with KMobility S.R.L., aimed at strengthening after-sales services and spare parts distribution. This initiative is backed by a newly established logistics and spare parts warehouse in Trento, Northern Italy, which has significantly improved delivery times—reducing spare parts shipments to 24 hours within mainland Italy and 48 hours for the islands.

Beyond Europe, Karsan set its sights on North America, following its 2023 entry into Canada through distributor Damera. This partnership will now extend to the U.S., as Karsan seeks to establish a strong presence across the continent. However, with shifting federal policies and the reduction of green transportation subsidies under the new U.S. administration, the demand for electric buses in the American market remains uncertain.

CEO report

Okan Baş, Karsan CEO said:

In 2024, we have achieved the 8th place in the market ranking in Europe and 4.5 percent in the market share. There are countries in Europe, where we are in the top 5. Even in Italy, Romania, Portugal, Switzerland in 3rd place; We are in the top 4 in France and Austria. Karsan e-ATAK with a 29 percent share and e-JEST with a 37 percent market share have achieved a very important success by maintaining the leadership in their segments in Europe for the 5th year in a row. In 2025, we will further our strength in electric mobility. Our goal is; 30% growth, sales of 700 electric vehicles and reaching a global electric vehicle park of 2,200 units. With this growth, we expect to increase our total turnover to 350-400 million euros and our electric vehicle turnover to 200-250 million euros. 2025 will be a year in which we will diversify our product range in both electric, autonomous and hydrogen, expand our market potentials and present innovations that will make a difference in the sector. Although we have a full product range, we never stop. 2025 will be a year in which we invest in new products and advanced technologies for Karsan.

Last year, we had the opportunity to visit Karsan's factory in Turkey. Read the full report here: Busworld Turkey 2024 – Karsan Press Visit.