3/15/2010

Turkish car makers ready for new investments worth USD 1 billion

 

 

Hurriyet - Having admirably overcome the effects of the global economic crisis in 2009, the Turkish automotive industry sees the year 2010 as the year of new investments.

 

Turkish car makers have already started carrying out the investments which were delayed due to the crisis and the ones required for new vehicles. The producers are expected to make investments worth at least USD 1 billion over two years, with around half of it in 2010. Among major investments, Ford Otosan will invest USD 150 million in its R&D center, whereas Hyundai Assan is planning to invest USD 75 million to produce its i20 model in Turkey. Tofas will invest EUR 130 million in the upgrading of its product line. Additionally, Oyak Renault is planning to invest an additional EUR 200 million for the production of Clio 4 in Turkey.

 

turkish automotive industry; bursa; gebze; ford; tofas; hyundai; renault

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