New Fiat model's production starts in Turkey

Tofa?, a joint venture of Turkey?s Koç Holding and Italy?s Fiat Chrysler, has started producing a new Fiat sedan model, Fiat Egea, in the northwestern province of Bursa on Sept. 28 in a ceremony with Koç Holding Chairman Mustafa Koç, Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne and Tofa? employees in attendance. 

?We have made more than $1.5 billion investments in new models along with our partner Fiat Chrysler. A majority of these investments have been made on R&D activities and innovation, which are of great importance...The Egea project is the most solid example of our group?s approach in creating high added value and strengthening its competitiveness. Fiat Egea is produced in Turkey thanks to world class investments and capacities of Tofa?,? said Koç. 

He noted that the project is ?smart,? because it was developed to meet the demands of both domestic markets and foreign markets after much research. 

?This model will be exported to more than 40 countries in Europe, Middle East and North Africa. In the same platform, we?ll also start the production of two new models, a hatchback and station wagon, for mainly export purposes,? Koç added. 

The Egea project is composed of three new models, the first of which is a sedan model, now produced in Bursa. Tofa? plans to produce 1.2 million units of Egea sedans in the next seven years, according to company representatives. The project is named after the Aegean Sea in praise of the ?sea of fellowship.? 

This project has been a new turning point for Tofa? to use its 50 years of experience, said company CEO Cengiz Eroldu. 

?Tofa? has been long prepared for this important point. Thanks to heavy R&D investments since the beginning of the 1990s, Tofa? has become...