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9.2 Major corporate news 9.2.1 Automotive corporate news
Media stories suggesting that an agreement has been reached between global automaker Stellantis and Turkish counterpart Tofas for new models do not reflect the truth, according to a filing made by Tofas (TOASO), a 38:38 JV between Turkey’s Koc Holding (KCHOL) and Stellantis (Milan/STLA).
Otokar (OTKAR), the bus and army vehicles unit of Koc Holding (KCHOL), has placed a single bid of Turkish lira (TRY) 378mn ($22mn), amounting to around 8% of Otokar’s 2021 revenues, in a tender held by IETT, the intracity transportation unit of Istanbul Municipality, to acquire 60 electric (EV) minibuses.
50 TURKEY Country Report August 2022 www.intellinews.com
