VW Finalizes Plan to Make Cars in Turkey
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Volkswagen AG will build an auto assembly plant in Manisa, Turkey, to make cars for sale in Turkey, the Middle East and Russia.
The factory will produce Skoda Superb and VW Passat midsize sedans. The facility will be operated by Volkswagen Turkey Otomotiv Sanayi ve Ticaret AS. Bloomberg says the company has been capitalized at 944 million liras ($165 million).
The €1 billion ($1.1 billion) factory will employ as many as 4,000 people and have the capacity to make 300,000 vehicles per year, according to media reports. Production is expected to begin in 2022.
VW says it is still in final negotiations for the project, which was posted today in a Turkish trade registry. The facility will enable the carmaker to relocate Superb/Passat production from Emden, Germany, a plant that VW plans to convert to make electric cars beginning in 2022.
Reuters reported last month that VW was nearing a final deal to build a factory in Turkey.
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