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Xinhua world economic news summary at 0900 GMT, Nov. 5

ISTANBUL — Turkish President Recep Tayyip Erdogan on Saturday said Türkiye was proceeding on the path of having a rapidly growing electric vehicle (EV) market after launching its first domestically-produced electric car TOGG last year.

Speaking at the inauguration ceremony of a car factory in the northwestern province of Kocaeli, Erdogan suggested that there would be fierce competition between the existing