Tur­key un­veils pro­to­types for $3.7bn car project

Muscat Daily - - BUSINESS -

Istanbul, Tur­key - Tur­key un­veiled pro­to­types for its ‘do­mes­tic car’ project on Fri­day, as the gov­ern­ment an­nounced sweep­ing in­cen­tives to back Pres­i­dent Re­cep Tayyip Er­do­gan’s am­bi­tion to cre­ate a Turk­ish-made ve­hi­cle.

Tur­key’s Au­to­mo­bile Joint Ven­ture Group Inc (TOGG), which com­prises five com­pa­nies and a busi­ness um­brella or­gan­i­sa­tion, will es­tab­lish a fac­tory in the man­u­fac­tur­ing hub of Bursa, ac­cord­ing to a pres­i­den­tial de­cree in the of­fi­cial gazette. The US$3.7bn in­vest­ment will en­able the pro­duc­tion of five mod­els and a to­tal out­put of 175,000 ve­hi­cles a year.

The first, a C-SUV, will be in­tro­duced in 2022, ac­cord­ing to TOGG’s web­site. The car was de­signed by Italy’s Pin­in­fa­rina SpA, Dunya news­pa­per re­ported on December 11.

The project is ex­pected to con­trib­ute US$50bn to the Turk­ish econ­omy in the 15 years fol­low­ing 2022, ac­cord­ing to Mehmet Gur­can Karakas, the chief ex­ec­u­tive of­fi­cer of the con­sor­tium.

Er­do­gan, who drove the pro­to­type SUV after a cer­e­mony on Fri­day to un­veil the de­signs, said the car rep­re­sents the cul­mi­na­tion of Tur­key’s progress in in­dus­trial tech­nol­ogy.

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