‘Nissan may invest in Turkey in 2-3 years’

DAILY SABAH
ISTANBUL
Published 14.11.2014 16:24
Updated 30.12.2014 10:44
‘Nissan may invest in Turkey in 2-3 years’

Celal Çağlar, president of Automotive and Cement Group of Turkish conglomerate OYAK, which has a partnership with French automotive giant Renault, announced on Thursday that there is a serious chance that Nissan will invest in Turkey in 2-3 years.

Çağlar pointed out that a new model will be produced with a 2 billion USD investment, and said a potential location would be next to the Renault plant in Bursa, or close to the İskenderun Iron and Steel Factory. A 100,000 production capacity, taken from the 360,000 annual production capacity in the Renault plant, can also be spared for Nissan, Çağlar said.

OYAK Group and Renault have had a partnership of 45 years in Oyak-Renault, with a 49 to 51 shareholding structure respectively.

Nissan, Japan's second largest automotive manufacturer, has had an ongoing alliance with Renault since 1999. Of Nissan's shares, 43.4 percent are owned by Renault, while Nissan owns 15 percent of Renault's shares.

Renault-Nissan Aliiance's CEO, Carlos Ghosn, had earlier stated that Nissan will eventually come to Turkey for production.

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