Turkey on Friday will unveil its first indigenous automobile, which also happens to be electric, as the production plant will be set up in Bursa province with project-based government assistance.
Turkey's new domestic electric car project will have a fixed investment of $3.7 billion over a period of 13 years, with an annual production capacity of 175,000 vehicles, the government's Official Gazette publication reported on Friday.
The project, launched on October 30, will receive state support, including tax breaks, and establish a production facility in the northwestern province of Bursa, according to a presidential decision published by the gazette.
Five models of the car will be produced by a workforce of more than 4,000 people, the statement said.
Turkey is a large exporter of vehicles to Europe, but the cars are made by global autos firms, usually in joint ventures with local partners.
At the time, he said a consortium of five firms – including mobile phone operator Turkcell and the parent of TV maker Vestel – had been selected to produce the car.
He had said the prototype would be completed by 2019 at the latest.