TOFAŞ made a major agreement with the goal of producing 1 million vehicles in 8 years.

In the announcement published on Tofaş's Public Disclosure Platform (KAP), it was stated that a production contract was signed between the company and Stellantis Europe S.P.A with the announcement dated March 1, 2023.

In the statement where the details of the agreement were shared, the following information was provided:

"Within the scope of our special situation announcement dated March 1, 2023, a production contract (production contract) has been signed with Stellantis Group regarding the granting of the right to produce the new 'K0' model light commercial vehicle and 'Combi versions' for Stellantis brands (FIAT, Opel, Citroën, Peugeot) in Turkey under Stellantis license on multi-energy platforms, as well as the determination of the sales conditions for the produced vehicle and spare parts, and a license agreement regarding the use of intellectual and industrial property rights belonging to the Stellantis Group."

1 MILLION VEHICLES TO BE PRODUCED IN 8 YEARS

In the statement, it was reported that under the contract, a project will be realized with an investment of up to 232 million euros, mostly completed this year, aiming to produce 1 million vehicles in the period from 2024 to 2032.

It was stated in the announcement that the distribution rights of the mentioned vehicles produced for the Fiat brand have been granted to Tofaş, and it was noted that "In the event that Stellantis Automotive shares are acquired by our company, the distribution rights of other Stellantis brands (Peugeot, Citroen, Opel) in Turkey will also pass to Tofaş."