Tofas to produce new Fiat sedan

Turkish automotive giant Tofas is set to produce the new Fiat sedan, which will be launched in the second-half of 2007. Making his first appearance as CEO, Alfredo Altavilla said, "The company has agreed with Fiat to produce the car in its Bursa factory." Tofas is a joint venture between the Italian automotive giant Fiat and Koc Holding. Koc Holding was the first company to establish a car factory in Turkey in 1968. The new mid-sized car will start production in Turkey, but will also be made in China and Brazil. The factories in China and Brazil will produce for their domestic markets, whereas Turkey looks set to export 30% of its production, mainly to Western Europe. Expectations run at 60,000 units per year for the Turkish plant. Tofas is said to investing its own 170 million in the venture. Â