Koç Holding’s automotive arm starts hatchback model’s production of Aegea family
AA photoTofaş, a joint venture of Turkey’s Koç Holding and Italy’s Fiat Chrysler, has started the production of a hatchback model of its Aegea family (dubbed Egea in Turkish) in the northwestern province of Bursa on April 12 in a ceremony with Koç Holding Chairman Ömer Koç, senior officials and Tofaş employees.
“Tofaş has seen the most powerful period since its establishment by making historic investments. With the Egea Hatchback, which we have started to produce as of today, we will move forward with greater success I believe. We aim to reach 1.3 million units of production and $10 billion worth exports by 2023 with our Egea models, in which over $1 billion have been invested,” said Koç, who has recently became the Tofaş chair.
Tofaş has been the largest production hub of Fiat Chrysler in Europe and produces for seven different brands.
The Egea project is composed of three new models, the first of which is a sedan model, now being produced in Bursa, as well as its hatchback model and a planned station wagon model. The project is named after the Aegean Sea in praise of the “sea of fellowship.”
Mustafa Koç’s vision
The production of the sedan model started last autumn in a ceremony with former Koç Chair late Mustafa Koç, who gave crucial importance to the project.
“We celebrated the beginning of the mass production of the Egea sedan model last October. We are here to launch the mass production of its hatchback model. Hereby, I commemorate my dear elder brother Mustafa Koç, who lost his life suddenly, with high respect and honor. He named the Egea as a ‘smart project’ because he saw the Eegea as a project which would strengthen Tofaş’s position in the local market and create a big export potential for the company. As he envisioned, the sedan model has become very successful in the European markets and is set to be exported to the Americas in the next months, proving how appropriate the investment decision was. I believe we will see further success with the Egea Hatchback,” he said.
Tofaş CEO Cengiz Eroldu said more than 2,000 Tofaş and Fiat Chrysler employees worked in the research and development process of the project, with Tofaş engineers playing a leading role.
This project has been a new turning point for Tofaş to use its 50 years of experience, he noted.
With over 100,000 units from the Egea Family are planned to be exported over this year, he added that some 90 percent of our Egea hatchbacks would be exported in 2016.