Jan 01 2018

Turkey makes progress on locally-produced car

Turkey is making progress in starting production of its locally-made car, one of the targets set out by President Recep Tayyip Erdoğan for the country’s centenary in 2023.

Firms Anadolu Grup, BMC, Kiraca Holding, Turkcell and Zorlu Holding will establish a company to produce the vehicle and appoint a CEO by April, Sabah newspaper reported on Monday.

The location of the factory and brand names will also be chosen by the same date, Sabah said.

Turkey is seeking to reduce its reliance on imported goods such as automobiles and boost exports to increase its global standing and reduce the current account deficit.

Erdoğan has said the prototype of the new domestic car would be ready by 2019 and production would start in 2021.  He announced the project six years ago and little progress has been made since, leading critics to claim that the initiative was little more than a populist stunt.

To read the report