Peugeot signals interest in investing in Turkey
Posted by meb at March 6th, 2009
Jean-Philippe Collin, the CEO of French automotive giant Peugeot, has announced that the company is preparing to invest in Turkey as part of a new project. Speaking at the Geneva Auto Fair on Wednesday, Collin said they were planning to manufacture a new car model and had already started conducting research and development.
“We plan to invest in Turkey for a new compact sedan model. There are some problems in financing the project, and we will accelerate our studies as soon as we find enough money,” he said.
Also, Peugeot Turkey head Jean Pierre Vieux said they were determined to carry out the project that Collin described and that Turkey was close to being chosen as the destination for the manufacture of the new Peugeot model.
Meanwhile, Alfredo Altavilla, the head of auto business development at Italian auto manufacturer Fiat, said they had achieved great success in Turkey with their partner Tofaş, a joint venture between Fiat and Turkey’s Koç Holding, having taken the right steps at the right time. “If we can feel at ease today amid the crisis, this is entirely because of decisions we made at the right time,” Altavilla said, adding that Turkey has become a prominent production base for Fiat and that their relationship with Tofaş was good.
source: Today’s Zaman
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