Tofas, Stellantis sign agreement for new vehicle production in Türkiye
Tofas production line. (Tofas Photo)
One of the leading automotive companies in Türkiye, Tofas, announced a production and licensing agreement with global carmaker Stellantis Europe for the manufacturing of new light commercial vehicles in Türkiye.
The agreement, disclosed to the Public Disclosure Platform (KAP) on Monday, includes the production of the “K0” model and its “Combi” version for Stellantis brands such as FIAT, Opel, Citroen, and Peugeot.
Multi-energy platforms to be used in vehicle production
The agreement grants Tofas the right to produce these models using multi-energy platforms under a Stellantis license. The project also covers the use of Stellantis Group’s intellectual and industrial property rights, expanding Tofas’s capabilities in the sector.
Significant investment planned for 2024-2032
The project will be supported by an investment of up to 232 million euros (approximately $250 million), with most of the spending expected to be completed in 2024.
The production timeline extends from 2024 to 2032, with a target of manufacturing one million units over this period. Distribution rights for FIAT-branded vehicles produced under this agreement have been granted to Tofas.
If Tofas acquires Stellantis’ shares, the distribution rights for other Stellantis brands, including Peugeot, Citroen and Opel, will also transfer to Tofas.
