Invest News DetailZaman - Ford Otosan, a JV between Ford Motor Company of USA and Turkey’s Koc Holding, has announced its plans to build a new auto production facility in addition to its existing plant in Kocaeli in northwestern Turkey. The company manufactures light commercial vehicles (LCV) and lightweight trucks in Turkey and exports to 70 countries worldwide. The investment cost of the new plant, which will take Ford’s vehicle production capacity in Turkey to 400,000 units per year, is around EUR 250 million (approx. USD 323 million). The third Ford plant in Turkey will manufacture a new model of LCV still under design and add 1500 new jobs. Ford Otosan’s research and development center in Kocaeli will be utilized for the design of the new vehicle, expected to enter production in 2013. In line with its larger investment scheme spreading out over 10 years, Ford will invest EUR 1.2 billion (approx. USD 1.55 billion) in Turkey, its 4th biggest retail market in Europe following the UK, Germany and Italy. The company sold over 141,000 motor vehicles in Turkey and has been the ‘bestselling auto brand’ for the last 10 years. Ford’s Turkish unit holds the first place in LCV sales in the country, commanding nearly 30 percent of the market. Ford Otosan exports Transit Connect model vehicles to the world, including the USA, in various configurations.