Invest News DetailDünya - French auto manufacturer Renault plans to invest USD 254 million in its production facilities in Turkey with over USD 100 million to be channeled into manufacturing engines and transmission elements. One of the leading producers of passenger vehicles in Turkey, the company is also considering adding a light commercial vehicle (LCV) to its production line. Partnered by Oyak Holding in Turkey, Renault’s plans for 2012 involve starting the production of the new supermini Clio 4 and revamped Megane 3 hatchback in its Bursa facility, the company’s second largest plant in the world with a production capacity of 360,000 vehicles per year. “Renault’s investments in Turkey topped USD 176 million in 2011 and we plan to increase the amount to USD 254 million this year,” Oyak Renault Director General Tarik Tunalioglu told reporters at a press meeting. “A little over USD 100 million of this amount will be utilized to manufacture engine and transmission elements in Turkey,” said Tunalioglu, adding that Turkey will be the pilot country for the production of the new Clio 4 model to be showcased for the first time in this year’s Geneva Motor Show in September. An Oyak Renault executive also hinted of plans for adding a LCV to the company’s production line in Turkey. “Renault intends to increase its market share to 20 percent in all the segments it competes in. We currently hold a 16.4 percent market share. In this context, LCV production would be a big boost,” he noted. Turkey is regarded as a production base for LCVs which are also strong sellers in the Turkish market.