Mercedes-Benz comfortable in Turkey: Executive
ISTANBUL - Reuters
AA photoMercedes-Benz Türk is closely following fluctuations in the Turkish Lira, but these fluctuations have not affected the company’s investment plans in the country, a senior executive said at an event to mark the 20th anniversary of the opening of the Mercedes-Benz Türk bus factory in the Istanbul district of Hoşdere.
Some 67 percent of Mercedes-Benz Türk is owned by Daimler AG. The company, which was established in 1967, has invested 885 million euros in Turkey so far.
Upon a question about the dramatic losses in the lira’s value, Daimler AG Bus Group President Hartmut Schick said the company has been closely following the foreign exchange fluctuations.
“Our investments have not been affected negatively. We feel comfortable in Turkey,” Schick added.
Mercedes-Benz Türk has invested 403 million euros in bus manufacturing operations in Turkey. With the investments in other fields, the total has reached 885 million euros, according to company representatives.
“Our Hoşdere bus plant is of great importance across Daimler’s global bus development and production network.
Over 80 percent of the vehicles produced here are exported to Europe and the Middle East,” Schick said.
He added that a total of 75,000 buses had been produced so far at the factory, which has a 60 percent share in the Turkish market and exports to more than 70 countries.