Invest News DetailToday’s Zaman – Jean Philippe Collin, the CEO of French automotive giant Peugeot, has announced that the company is preparing to invest in Turkey as part of a new project. Speaking at the International Geneva Motor Show last week, Collin said they are planning to manufacture a new car model and have already started conducting research and development. "We plan to invest in Turkey for a new compact sedan model. There are some problems in financing the project, and we will accelerate our studies as soon as we find enough money" he said. Also, Jean Pierre Vieux, Peugeot Turkey Head, said they are determined to carry out the project that Collin described and that Turkey is close to being chosen as the destination for the manufacture of the new Peugeot model. Meanwhile, Alfredo Altavilla, the Head of Auto Business Development at Italian vehicle manufacturer Fiat, said they achieved great success in Turkey with their partner Tofas. It was a joint venture between Fiat and Turkey's Koc Holding, taking the right steps at the right time. "If we can feel at ease today amidst the crisis, this is entirely because of decisions we made at the right time" Altavilla said, adding that Turkey has become a prominent production base for Fiat and that they have a good relationship with Tofas .