ISTANBUL — Turkey's new domestic electric car project will have a fixed investment of 22 billion lira (2.85 billion pounds) over a period of 13 years, with an annual production capacity of 175,000 vehicles, the Official Gazette said on Friday. The project, launched on Oct. 30, will receive state support, including tax breaks, and establish a production facility in the northwestern province of Bursa, according to a presidential decision published by the gazette. Five models of the car will be produced by a workforce of more than 4,000 people, the statement said. Turkey is a large exporter of vehicles to Europe, but the cars are made by global autos firms, usually in joint ventures with local partners.

Source: International New York Times December 27, 2019 05:32 UTC