Turkish President Recep Tayyip Erdogan on November 2 unveiled plans to produce the country’s first domestically made car by 2021.
Turkish conglomerate Anadolu Group, carmaker BMC, Kiraca Holding, Turkey’s largest GSM operator Turkcell and Zorlu Holding have teamed up for the project.
Erdogan said he expected the prototype of the first domestically-produced car to be ready in 2019 and for sales to start in 2021, Hurriyet Daily News reported.
“I want to own the first such automobile and I will pay for it,” he said.
Erdogan first floated the idea of producing cars locally in 2011 and has been urging local companies to work on this matter ever since.
Turkey’s is one Europe’s largest carmakers. It produced more than 950,000 passenger cars last year, a 20% increase from the previous year, according to data from the Automotive Manufacturers’ Association (OSD).
“This is a good intention but there is a long way ahead,” Cemal Demirtas, head of research at Ata Invest, told Reuters on November 2.
“This group is not an experienced group in automotives. Can this group produce it? How will they cooperate? The competition is fierce in the sector and abroad,” he added.
Turkey will not extradite any terror suspects to the US if Washington continues to refuse to hand over Fethullah Gulen, President Recep Tayyip Erdogan said on January 11. Ankara blames the ... more
The Turkish central bank reported on December 7 that its gross forex reserves last week experienced a record drop, declining to $89.85bn on December 1 from $96.35bn a week earlier. ... more
EU governments have agreed with the European Parliament to withdraw €105mn that would have gone to help finance political ... more