Turkish carmaker Tofas to double exports to $3 bln this year

Bloomberg - Tofas Turk Otomobil Fabrikasi AS, which makes cars in Türkiye for Fiat SpA, will double revenue from exports to $3 billion this year after it increased production capacity, Vatan reported. The Istanbul-based company became one of Fiat's three largest production hubs after it raised its capacity to an annual 400,000 vehicles this year, Vatan said, citing Chief Executive Officer Ali Pandir. Tofas is a unit of Koc Holding AS, Türkiye's biggest company, and Turin-based Fiat.