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Business

Web Desk
June 3, 2018
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Turkey to build its own car

A  group of five local  companies would produce  first Indigenous Turkish car, according to state-run Anadolu news agency on Saturday.

According to the news agency, a partnership agreement to build the car was signed on May 31.

A statement issued by the partners said the the group has been named Turkey's Automobile Initiative Group.

Five local firms -- Anadolu Group, BMC, Kok Group, Turkcell, and Zorlu Holding, the Union of Chambers and Commodity Exchanges of Turkey (TOBB) has joined hands to complete the task.

The report said Mehmet Gurcan Karakas, a Turkish manager in the global automobile market, was appointed as the CEO of the new company.

"With this project, I am happy to have the opportunity to transfer my knowledge and experience in the global market to my country.

"Rest assured, Turkey will produce a competitive brand in the global market," Karakas added", he said in a statement.

Turkish minister for Science, Industry, and Technology Faruk Ozlu called the new project a technological breakthrough for the country.

"As the government and ministry, we will provide the necessary support, especially in research and development, design and production operations, and make the necessary arrangements for the establishment of infrastructure for electric vehicles in Turkey," Ozlu was quoted by Anadolu as saying.

The news agency said Turkey attempted to produce its first domestically produced car in 1961, the Devrim (Revolution), which was unsuccessful. The Production was halted following the first prototypes.

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