Turkish Market Competitive Position and Growth
We grew our operations and continued to hire key team members in Q3 2022
20
Total fleet
(thousands)
43
99
Operational developments
Assembled and deployed over 4,000 new vehicles.
Started E-bike operations in Çeşme, Isparta, and Kocaeli.
. Operations paused in some cities and vehicles reallocated to improve efficiency.
• Monthly theft and vandalism rate remains below 0.1% of fleet.
.
128
2021 Q3
2022 Q3
2023 E
2023 FD
Human capital developments
194 person HQ team and 950 field team members, as of end of Q3 2022.
Hired 68 new employees at HQ, including department heads for our Vehicles team and Investor Relations.
Other developments
Turkish Competition Authority initiated an investigation into claims of unfair competition due to Marti's
dominant market position. The investigation was concluded without any monetary penalty.
Source: Company information. 1. FD refers to Fully Deployed figures that Marti would be expected to achieve in 2023 if only the proceeds from the ~$57.5 million in convertible note PIPE commitments plus assumed incremental PIPE commitments of up to ~$92.5 million to be raised post-
announcement were to be deployed towards purchasing E-Scooters, E-Mopeds and E-Bikes immediately upon receipt.
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