Science, Industry and Technology Minister Faruk Özlü said the CEO of Turkey's domestic automobile, an initiative launched in Nov. 2017 to manufacture a "Made in Turkey" car, will be announced on Friday.Minister Özlü stated that in addition to the five partners in the Domestic Automobile Project, the Turkish Union of Chambers and Commodity Exchanges (TOBB) became a partner in the company with a 5 percent stake."Our project is going well. Hopefully, Mr. President Recep Tayyip Erdoğan will announce the CEO of the company and bear testimony to the company's establishment protocol on Friday," Özlü said.

In reference to the announcement date of the details of the domestic automobile project, he noted that they will announce the establishment contract of the company for the domestic brand automobile with a ceremony to be held at the Presidential Complex at 2:30 p.m. on Friday.

While the names for the CEO appointment were discussed, it was rumored that the CEO will be a figure who has achieved global success in the automobile industry.

The minister previously stated that Turkey's first domestically produced car will enter the market with five different models. In order to reduce production costs, three of those models - namely a sedan, a sport utility vehicle (SUV), and a general-purpose vehicle - will use the same chassis and the vehicles will be produced in segments B (small cars) and C (medium cars).

In early November of last year, the Turkish public witnessed the launch of a groundbreaking initiative to manufacture Turkey's first domestic automobile.

This goal has brought together the country's largest manufacturers and companies in a consortium that includes Kıraça, Anadolu Group, Turkcell, Zorlu and BMC.

The initiative came after repeated calls from President Erdoğan for a joint venture car project by the TOBB and the Ministry of Science, Industry and Technology.