By the investment worth $70 million to be made, Tofas will produce lightweight commercial vehicle in the northwestern province of Bursa from the first quarter of 2016. The mini cargo Facelift project of Tofas which would be made with participation of FCA Italy has been approved. According to the announcement that sent to Turkey’s ‘Public Disclosure Platform’, the said project which was approved by the executive board of Tofas would cost worth $70 million including homologation spends. Between the years 2016-2021, a total of 260 thousand vehicles are being planned to produce predominantly to be for the export market
According to the previous statement from the firm, Tofas, the Turkish automotive firm had announced they were maintaining its R & D studies and strategy focusing on new models, would obtain a long-term foreign finance up to $250 million to use in its commercial vehicle investments. Previously Tofas had announced a total of $1,4 billion for the investment of New Doblo in 2013, New Sedan project; in 2014 two-new passenger car project, the part worth $360 million of that project was completed for Doblo project and its exports were launched last December to the USA. So, the company currently has passenger car investment worth $1,04 billion. The new production amount in the projects is the number of 1,3 million units
The number of 580 thousand units of 1,3 million unit production is Sedan model which would account for worth $520 million that planned to be manufactured by 2023. The rest 700 thousand units of the production will belong to the two new passenger cars that would cost $520 million. Having the capacity utilization of 400 thousand units at its plant in Bursa, Tofas produces Fiat brand vehicles such as Linea, Doblo, Minicargo models and mostly exporting.