Toyota begins production of C-HR model in Turkey with investment of 350 mln euros
SAKARYA - Reuters
DHA photo
Toyota Motor Corporation launched production of its C-HR compact SUV crossover in Turkey on Nov. 9, noting that the model would be exported to all global markets, including North America and Taiwan.In a statement, Toyota said production was beginning with an initial investment in Turkey of 350 million euros ($390 million) and that the production would create 2,000 new jobs.
With the new investment in the northwestern province of Sakarya, total investments by Toyota Otomotiv Sanayi Turkey have hit 1.7 billion euros.
The number of markets to which the company makes exports will increase from 52 to 97, including the United States, Canada and Taiwan, with the new investment, according to the statement.
The production volume is expected to rise 30 percent in 2016 and 140 percent in 2017, added the statement.
The largest market for Toyota C-HR is expected to be Europe and North America.
Toyota will continue production on the Corolla and Verso models on the same production line as the C-HR model.
With the new investment in the northwestern province of Sakarya, total investments by Toyota Otomotiv Sanayi Turkey have hit 1.7 billion euros.
The number of markets to which the company makes exports will increase from 52 to 97, including the United States, Canada and Taiwan, with the new investment, according to the statement.
The production volume is expected to rise 30 percent in 2016 and 140 percent in 2017, added the statement.
The largest market for Toyota C-HR is expected to be Europe and North America.
Toyota will continue production on the Corolla and Verso models on the same production line as the C-HR model.
