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Renault to invest $431m to make new models in Turkey

Renault expects one-third of its sales in Turkey to be electric or hybrid by 2027 Reuters/Gonzalo Fuentes
Renault expects one-third of its sales in Turkey to be electric or hybrid by 2027

Renault Group will invest $430.92 million by 2027 to produce four new models in Turkey, including a new low-cost SUV, according to a local media report.

The new models will be made in collaboration with the French carmaker’s local partner Oyak at their site in the northwestern Bursa province of Turkey, Daily Sabah newspaper reported.

“We will make our Bursa factory the export centre not only for Europe but also for other countries worldwide,” Renault CEO Fabrice Cambolive told a media conference.

The company seeks to prune the production costs of its cars by as much as 50 percent in the next four years by increasing the use of digital and artificial intelligence technology.

The aim is to reduce production costs per vehicle by 30 percent for internal combustion vehicles and 50 percent for electric vehicles by 2027.

Renault expects one-third of its sales in Turkey to be electric or hybrid by 2027, Cambolive stated.

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