Volkswagen, Dogus Otomotiv sign letter of intent to explore car production in Turkey

Oct 30 (Reuters) – Dogus Otomotiv (DOAS.IS), has signed a letter of intent ​with Volkswagen (VOWG.DE), group companies to ‌explore options for producing Volkswagen brand passenger cars in Turkey, the ​automotive distributor said in ​a statement on Friday.

• Volkswagen had ⁠abandoned plans for a ​factory in Turkey in 2020, ​citing the COVID-19 pandemic and global economic developments
• The partnership aims to offer ​value-added products suited to ​new technologies in the Turkish market and ‌contribute ⁠to growth in the Turkish auto industry, Dogus said
• A serious passenger car production partnership ​could have ​a ⁠significant long-term impact on Dogus, Ata Yatirim ​analyst Cemal Demirtas said
• Shares ​of ⁠Dogus Otomotiv rose 10% in morning trade, on track for ⁠their ​biggest one-day jump ​since May 2025

Reporting by Canan Sevgili in ​Gdansk, editing by Milla Nissi-Prussak