Turkish President Recep Tayyip Erdoğan on Monday said that a prototype for Turkey's first indigenous automobile would be ready next year and mass production would start two years later.
"The prototype will be ready in 2019, mass production will start as of 2021", Recep Tayyip Erdoğan told a fast-breaking (iftar) meal program in the northwestern Bursa province.
Turkey launched a joint venture to produce its first domestically-produced car last November, and a partnership deal to create the car brand was signed on May 31.
The manufacturing company was named Turkey's Automobile Initiative Group. Five local firms -- Anadolu Group, BMC, Kok Group, Turkcell, and Zorlu Holding with 19 percent of shares each -- and the Turkish Union of Chambers and Commodity Exchanges (TOBB) with 5 percent of shares, will jointly lead the firm.
