Invest News DetailYeni Safak – German powertrain and motor vehicle technologies developer FEV Group has entered the Turkish market in a bid to take part in Türkiye’s national car project and the country’s growing automotive industry. Announced by the Investment Support and Promotion Agency of Türkiye (ISPAT) President Ilker Ayci, the Aachen-based company’s entry to the country is strategically important due to its technology and know-how transfer potential to the local automotive industry. The company is regarded as one of the leading solution providers of high-tech automotive applications. Türkiye’s automotive industry’s strong manufacturing capability that is producing automobiles, trucks, heavy vehicles and other motor vehicles can potentially utilize FEV services. FEV is reportedly in talks with such producers and suppliers. “The Turkish automotive industry’s competitiveness level on international grounds will receive a boost with this strategic investment” ISPAT President Ayci said at the press event. “The know-how and technology acquired through FEV will help the sector to contribute more to our economy” he noted. Drawing attention to Türkiye’s national car project, FEV's Vice-President in charge of Eastern Europe and Asia, Dr. Michael Wilhelm said that developing and manufacturing a national car is certainly within Türkiye’s capabilities. “The country is one of the leading auto manufacturing bases in the world” he added. Fuelled by rising income levels and booming car sales, Türkiye aims to create a national automotive brand that could be marketed both domestically and internationally. The country ranks 16th in global automotive production and is home to manufacturing plants of Ford, Toyota, Honda, Hyundai, Fiat and Renault.