September 3, 2019 / 8:39 PM / 12 days ago

Volkswagen making big investment in Turkey - Czech PM

FILE PHOTO: A Volkwagen company logo sits atop the VW factory in Wolfsburg, Germany November 20, 2015. REUTERS/Ina Fassbender

ISTANBUL (Reuters) - German carmaker Volkswagen (VOWG_p.DE) is making a big investment in Turkey, Czech Prime Minister Andrej Babis said on Tuesday.

“We have heard that Volkswagen is making a big investment in Turkey,” Babis said during a news conference after meeting with Turkish President Tayyip Erdogan.

Reuters reported last week that Volkswagen was holding talks with officials in Ankara over Turkey’s vehicle tax regime as it seeks to conclude a 1 billion euro (907.7 million pounds) agreement to build a production plant in Turkey.

The company said earlier that no final decision had been reached on the location of a new multi-brand plant. The auto maker had also been looking at Bulgaria.

“Czech Republic is an important manufacturer of car parts... We are in a leader position on this issue and would certainly like to cooperate,” Babis added in comments that were broadcast live on Turkish television.

Writing by Ezgi Erkoyun; Editing by Dan Grebler

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