Qatar urges Volkswagen to pick Turkey for 1.3 billion euro plant
Qatar played an effective role in German carmaker Volkswagen’s plans to build a multi-brand production plant in Turkey, pro-government Sabah newspaper reported on Sunday.
The Investment Authority (QIA) of Qatar, which owns a 17 percent stake in Volkswagen, urged the company to invest in Turkey, the newspaper said, with the Ankara-ally country’s national wealth fund voting in favour of Turkey during a meeting of Volkswagen’s supervisory board.
The German carmaker is soon expected to announce its plans for a 1.3 billion euro plant near Turkey’s western coastal city of İzmir, according to German trade magazine Automobilwoche.
The plant will also produce Volkswagen’s subsidiary Skoda, the magazine said, adding that plans for a new site were being firmed up, however, had not yet been finalised.