Baku, Azerbaijan, May 7
By Rufiz Hafizoglu - Trend:
A new company for the production of domestic cars will be created in Turkey, Turkish Ministry of Science, Industry and Technology told Trend May 7.
The ministry said that the opening of the company will be held on May 11 this year.
"On May 11, President Recep Tayyip Erdogan will announce the name of the company and will name its CEO," the ministry said.
The ministry said that the Turkish automotive industry will be able to compete with global automotive companies.
Earlier, the Minister of Science, Industry and Technology of Turkey Faruk Ozlu said that Turkey will invest $3 billion in the creation of a domestic car.
Ozlu said, work is currently underway to develop prototypes of five different models of the domestic cars.
The Minister also noted that one of the cars will be equipped with an electric motor.
The first prototypes of the domestic Turkish cars will be presented at the Geneva motor show, which will be held in 2019.
On November 2, 2017, Turkish President Recep Tayyip Erdogan announced the names of companies that will participate in the creation of the domestic car - Anadolu Grubu, BMC, Kıraca Holding, Turkcell and Zorlu Holding.
Erdogan stressed that the creation of a domestic car will strengthen the economy of Turkey.
The president also said that Turkey will export domestic cars to neighboring countries.
The car developed in Turkey, will be manufactured with different types of body and power units.
The purchase of a domestic car in Turkey will be exempt from paying a special consumer tax.
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