Ford Otosan, the Turkish joint venture of
Ford Motor Co.
), announced that it has opened a new production facility in
Yenikoy, Turkey, to produce 2 new vehicles. Ford celebrated the
occasion with members of Koc Holding, its joint venture partner in
Turkey, and many government representatives.
Ford Otosan is a 55-year old joint venture between Ford and Koc
Holding. Ford Otoson has made an investment of $511 million in the
Yenikoy plant, which will be producing Transit Courier small
commercial vehicle and Ford Tourneo Courier entry-level
people-mover, which will be sold in 46 countries.
The Yenikoy plant is located near Ford Otosan's existing Kocaeli
vehicle assembly plant and spreads across 70,000 square meters. It
is the third Ford Otosan plant manufacturing Ford vehicles. The
plant produces vehicles using the same advanced and environmentally
friendly manufacturing technologies that are used by Ford in its
global production facilities. It is expected that the plant will
produce 110,000 vehicles per year.
Ford Otosan was given the responsibility to manufacture two new
vehicles for the completely revamped/renewed Ford commercial
vehicle and people-mover range. The vehicles produced in the new
plant will compete in growing market segments. The company expects
this move to open up future growth opportunities.
Ford Otosan is one of the most successful partnerships in the auto
industry and the initiation of production at the Yenikoy plant will
further strengthen the relationship. At present, Ford Otosan
manufactures the Cargo heavy truck, the Transit and Transit Custom
medium commercial vehicles, the Tourneo Custom people-mover, the
all-new Tourneo Courier entry-level people carrier and the Transit
Courier small commercial vehicle. The joint venture exports Ford
vehicles to 106 markets globally.
Ford currently carries a Zacks Rank #3 (Hold).
Fox Factory Holding Corp.
Tata Motors Ltd.
Fuji Heavy Industries Ltd.
) are some better-ranked automobile stocks worth considering. Fox
Factory and Tata Motors carry a Zacks Rank #1 (Strong Buy), while
Fuji is a Zacks Rank #2 (Buy) stock.
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