Oyak and French Renault extend partnership
Turkey’s Oyak and French automotive producer Renault Group signed an agreement in France to extend their partnership for 27 years, Anatolian Agency reported on June 29. The agreement was signed by Suleyman Savas Erdem, the general manager of Oyak, and Thierry Bollore, the chief operating officer of Renault Group.
With no changes in the share distribution between the shareholders, the signed agreement aimed to cover industrial and commercial activities and common goals of both parties in Turkey.
Noting that the new agreement will provide significant added value to Turkey’s economy, Er- dem said: “Automotive is the leading sector with a 21 percent share of total export volume, which is about $150 billion.”
“We believe in the future of Turkey and we will continue our investments at its current pace,” Erdem added.
He also added that the Oyak-Renault joint venture will rank it first in automobile exports with 288,000 units.
Bollore, for his part, said the renewal of the agreement opens a new page in the company’s history in Turkey.
“Turkey is Renault Group’s 6th largest global market and we rank first in passenger car exports in Turkey,” he added.