Turkey’s Tofas to Invest €256 Million in New Light Vehicle Model
A Tofas Dogan Sahin in Istanbul.
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Turkey’s Tofas agreed to invest €256 million ($291 million) to produce a new light vehicle model as part of the regulatory approval to take over Stellantis NV’s local distribution business.
Turkey’s Competition Authority approved Stellantis NV’s sale of its local distribution business to Tofas Turk Otomobil Fabrikasi AS late on Friday.