Three car manufacturers have announced that they are to invest a total of 287.1 million euros in car production at two different factories in Turkey, boosting foreign direct investment in Turkey.
The Turkish branch of Toyota announced that they are to make an additional investment of 150 million Euros to strengthen their existing production plant in the Black Sea province of Sakarya. The new investment will create an extra 400 jobs in the area. A statement from the company read: “With the production of the Verso model as well as the new project, the total production quantity in Turkey and our settlement here will increase.”
Another car manufacturer increasing investment in Turkey is Tofas, the domestic carmaker operating under the Italian Fiat brand. The company has started production on a new Combo model car in Bursa which will see a total investment of 137.1 million Euros in to Turkey. A statement read: “The business volume will reach 1.4 billion Euros and will be an important contributor to the economy in the middle to long term.”Cars in Turkey is a big and important business, the market for cars in Turkey is huge as more people invest in a car in Turkey and the quality of cars in Turkey rises further and further.