Oyak-Renault, which will invest more than 100 million euros in Turkey, will produce the engine for hybrid vehicles in Turkey.
Mehmet KAYA
ANKARA-Minister of Industry and Technology Mustafa Varank announced that Oyak-Renault will manufacture engines for hybrid vehicles in Turkey. Varank received Oyak-Renault General Manager Antoine Aoun. In the information given after the reception, it was stated that the investment of more than 100 million euros will be made with state incentives. With the investment, aluminum engines will be produced for the first time in Turkey. The foundation of the factory will be laid with a ceremony in Bursa on October 19.
Making a statement regarding the meeting, Minister of Industry and Technology Mustafa Varank underlined that the engine blocks will be produced with high technology and said, “This investment, which is a major breakthrough for our automotive industry, will make significant contributions to value-added production, employment and exports. It is also expected to contribute 2.3 billion dollars annually to reduce the current account deficit.”
Oyak-Renault’s investment was included in President Tayyip Erdoğan’s “super incentive” list announced on April 9. The investment was included in the list within the scope of Oyak Renault Automobile Factories’ production of engines, batteries and aluminum engine blocks for new generation hybrid vehicles. The investment will start with the aluminum injection plant, the most important pillar of the project.
New technological investment in automotive
Within the scope of the project-based incentive system, an investment consisting of engines and components for new generation hybrid vehicles is being realized. With Oyak Renault’s project, the fixed investment amount of which exceeds 100 million euros, it is noted that most of the products to be produced from the factory will be exported.
Minister Varank made the following assessment after the acceptance: “High technology, which is only available in a few places in the world, will be used in the production of these engine blocks. This investment, which is a major breakthrough for our automotive industry, will make significant contributions to value-added production, employment and exports. Negotiations are ongoing with Turkish companies for the local supply of aluminum to be used in production. Therefore, our domestic resources will be utilized in the best possible way,” he said.
Stating that efforts are being made to attract high value-added investments to Turkey and that investors are supported without discrimination, Minister Varank said, “We offer extremely attractive incentives for our investors and do not discriminate between domestic and foreign investors. Turkey has a very serious potential, we will make the best use of this potential and serve the structural transformation in the economy. In the current world conjuncture where trade wars are being discussed, we continue on our way by taking firm steps and getting stronger. This new cooperation will bring significant gains for both parties. We would like the company to produce its first model hybrid cars in Turkey.”
Meanwhile, Antoine Aoun, General Manager of Oyak Renault Automobile Factories, emphasized that Oyak Renault is Turkey’s leading automobile manufacturer exporting to 70 countries of the world and said, “We continue production of all our models in 3 shifts in line with the plans we have made. Turkey is a very important country for Renault Group. Renault Group trusts Turkey and is building its investment plans on this trust.”
Regarding the engine investment, Aoun noted that the most important investment in the production of new generation hybrid engines is the Aluminum Injection Factory, and emphasized that the company is determined to continue its investments.
Minister Varank, Renault Group’s World Vice President Thierry Bollore and OYAK General Manager Süleyman Savaş Erdem are expected to attend the groundbreaking ceremony to be held in Bursa on October 19.
Source: https://www.dunya.com/sektorler/otomotiv/oyak-renault-hibrit-araclar-icin-motorlari-turkiyede-uretecek-haberi-429249
