Istanbul – The Turkish car manufacturer Tofaş has announced a program of renovation for its commercial vehicles, with planned investments for $70 million, alongside Fiat. The project – which will run between 2016 and 2021 – will increase the production by 260 000 vehicles, and a considerable part will be devoted to foreign markets. Production will take place in the Tofaş plant in the province of Bursa. The company in the next few years will focus on R&D and the development of new models, with expected long-term funding amounting to €250 million. Tofaş, a company owned by the Koç Group and Fiat, will invest $1 billion to produce three new models, mainly for foreign markets. The Bursa plant aims to produce, between 2016 and 2023, 1.3 million vehicles: two volumes, station wagons and sedans. (9Colonne)
