Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 30

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 30
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-risk group in traffic. Traffic accidents involving motorcycle drivers may lead to more serious injuries, deaths,
incidents, potentially resulting in lawsuits against our Company.

These risks could result in significant costs
related to investigation and defense, adversely affecting our reputation and causing a significant negative impact on our business, results
of operations, and prospects.

Climate change-related sustainability risks
pose threats to our existing operations, and regulators and stakeholders may demand an expedited transition period. If we are unable to
manage such risks, they could adversely impact our reputation and have a material adverse effect on our business, results of operations,
and prospects.

In the future, our operations may face climate-related
physical risks, such as extreme weather events or natural disasters potentially disrupting our ability to operate and causing temporary
shutdowns. Given the nature of the two-wheeled electric vehicle business and motorcycle-hailing business, which are particularly vulnerable
to such risks, this line of our business may encounter even greater challenges.

As Türkiye begins producing its own electric
vehicles (“ EVs”), regulators and stakeholders may increasingly push for lower-carbon transportation solutions. This could
lead to regulatory changes mandating the transition to EVs for public transportation and mobility, along with additional fees or penalties
for drivers using fossil-fueled vehicles. Such a transition might hinder the growth of our driver count due to potential increased costs
for them. Moreover, drivers may request assistance from us in transitioning to EVs, placing additional operational and financial burdens
on our company. Failure to comply with this transition could result in negative publicity and influence rider preferences and behaviors.

If we are unable to manage such risks, they could
have an adverse impact on our reputation and a material adverse effect on our business, results of operations, and prospects.

Regulators may change the licensing requirements
of drivers operating on our platform or within the sector, potentially necessitating new licenses to operate or imposing limits on the
number of drivers permitted to operate in specific regions or with our Company.

Currently, our drivers, as well as those in the
sector, are only required to possess standard driving licenses, without the need for additional commercial taxi licenses. However, as
the market evolves, regulators may mandate additional licenses for drivers to operate as ride-hailing drivers. They may also impose limitations
on the number of drivers, driver hours, or vehicles permitted for ride-hailing service companies like ours, along with introducing additional
licensing requirements and fees. Such regulations may also restrict the number of drivers, driver hours, or vehicles