TURKEY LAUNCHES JOINT VENTURE FOR FIRST INDIGENOUS CAR

Dunya Executive - - OVERVIEW -

Turkey launched a joint venture in Ankara to produce its first domestically produced car on Nov. 2. President Recep Tayyip Erdogan announced that five automotive supplier firms – Anadolu Group, BMC, Kiraca Holding, Turkcell and Zorlu Holding – would jointly manufacture Turkey’s first homemade car.

The president expressed his gratitude to the firms and promised his “full support” for the venture. “I will closely follow the developments,” he added.

The initiative came after repeated calls from Erdogan for a joint car project of the Union of Chambers and Commodity Exchanges (TOBB), and the Science, Industry and Technology Ministry. Erdogan said he expected the prototype of the first domestically produced car to be ready in 2019 and sales to start in 2021. “I want to own the first automobile, provided that I will pay for it,” he said. “No one should hesitate. We will produce Turkey’s car with the best design and technology, both for our country and the world.”

“Today, we are taking a historic step to get rid of this shame,” he added. Yildirim said the project “will add new success to the ongoing achievements of Turkey.” According to export figures released in October, export was highest in the automotive sector with over $2.6 billion, he said. “It is out of the question for Turkey to not produce cars domestically as it has become so competent in the automotive sector.”

TOBB President Rifat Hisarciklioglu said the five companies of the consortium have 110,000 employees and that their last year’s production is close to TRY 65 billion. “We will work very hard for 3-4 months. We will analyze alternative technologies and funding opportunities. We will design our state support for this project together with our ministry in accordance with the instructions of our president and we will build our company in the first months of 2018,” he said.

Newspapers in Turkish

Newspapers from Turkey

© PressReader. All rights reserved.