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  • 04-01-21

    Turkey says decision by Volkswagen to pull out investments politically motivated

    (MENAFN)The decision by Volkswagen to enclosure investments from the country was politically provoked, declared Turkey's industry minister on Sunday.

    "We knew that there were some people who didn't want this [investment in Turkey] politically," stated Mustafa Varank.

    CEO of the German carmaker put the responsibility on the ongoing pandemic for their decision.

    In October 2019, the German automotive giant built a local firm in Turkey with a capital of 943.5 million Turkish liras (USD164.5 million) to design, produce, collect, sell, import and export automobiles, trucks and all types of motor and transport vehicles and their parts and apparatus. However, it put for bankruptcy previous December.

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