December 27, 2019 / 4:37 AM / a month ago

New Turkish electric car project investment seen at 22 bln lira

ISTANBUL, Dec 27 (Reuters) - Turkey’s new domestic electric car project will have a fixed investment of 22 billion lira ($3.7 billion) over a period of 13 years, with an annual production capacity of 175,000 vehicles, the Official Gazette said on Friday.

The gazette published a presidential decision which said the car production project, launched on Oct. 30, will received state support in the form of tax breaks and will be based in the northwestern province of Bursa. ($1 = 5.9339 liras) (Reporting by Ebru Tuncay; Editing by Daren Butler)

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