Caspian Energy Journal Caspian European Club
Monday, 08 October 2018 13:00

Turkey to produce next-generation hybrid vehicles

Turkey to produce next-generation hybrid vehicles

Turkish-French joint venture Oyak Renault will build a new plant in the northwestern Turkish province of Bursa, Caspian Energy News ( reports with reference to the official website of AK Parti (The Justice and Development Party of Turkey).

“The project, with a fixed investment of more than €100 million (approx. $115.3 million), will help cut [Turkey's] current account gap by $2.3 billion a year,” Technology and Industry Minister of Turkey Mustafa Varank said during the meeting with Antoine Aoun, General Manager of Oyak Renault Turkey, held in the capital Ankara to discuss the company's investments in Turkey.

“For the first time aluminum engines will be made in Turkey,” he added.

The carmaker will lay the foundation for a new factory in Bursa on Oct. 19, Varank said.

He said the factory is the keystone of the production facility for next-generation hybrid vehicles as spurred by government incentives.

In April, President Recep Tayyip Erdogan announced incentives worth 135 billion Turkish liras ($33.16 billion) to support 23 projects by 19 selected firms.

The incentives aim to encourage more investment in the country, as well as support firms in such sectors as health care, defense, automobiles, mining, and metals.

Varank said Turkey will be the only manufacturer in Europe of the company's next-generation engine.

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Person in charge of the newsline: Olga Nagiyeva 


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