11/1/2010

Ford executive ‘excited’ about opportunities in Turkey

Hurriyet Daily News - Ford sees the economic boom in Turkey as an exciting opportunity, according to Ted Cannis, deputy General Manager of Ford Otosan, a joint venture between the US company and Turkey’s Koc Holding.

Speaking to the press during the Autoshow in Istanbul, Cannis said everyone he speaks with “agrees on how great the Turkish economy has been doing so far.”

Turkey is an “attractive long-term investment location” for global vehicle manufacturers and suppliers, he said. Next year will be “even more interesting,” as the production of the company’s first electric vehicle will start in Turkey. The BEV model electric car and the Connect BEV will be produced in Turkey and exported to North America and Europe.

Ford Otosan is currently investing USD 630 million in its existing factory in the northwestern province of Kocaeli. With this investment, Ford Otomotiv will start producing the popular Transit vans in Turkey.

According to Turkey’s Automotive Industry Exporters’ Association, in the first nine months of 2010, the total volume of car exports rose by 12.4 percent compared to the previous year, to USD 11.4 billion from USD 10.2 billion a year earlier. Nearly 561,000 vehicles were exported from Turkey in the first nine months of the year, which represents an annual rise of 30 percent. Turkey’s top five markets in car exports include France, Italy, Germany, Britain and Spain. Romania and Russia are also promising markets.
turkey; automotive industry; ford otosan; turkish economy; ted cannis; transit van; electric vehicle; electric car; car exports