Turkey launches joint venture for first indigenous car

By Ayse Humeyra Atilgan, Burcu Arik and Fatma Bulbul

ISTANBUL (AA) - Turkey launched a joint venture to produce its first domestically-produced car in capital Ankara on Thursday.

President Recep Tayyip Erdogan, Prime Minister Binali Yildirim, and Science, Industry and Technology Minister Faruk Ozlu attended the launch of the automobile industry domestic joint venture group at the presidential palace.

Erdogan announced that five automotive supplier firms -- Anadolu Group, BMC, Kiraca Holding, Turkcell, and Zorlu Holding -- will jointly manufacture Turkey's first car.

The president expressed his gratitude to the firms and promised his "full support" for the venture.

"I will closely follow the developments," he added.

The initiative came after repeated calls from Erdogan for a joint project of the Union of Chambers and Commodity Exchanges (TOBB) and the Science, Industry and Technology Ministry.

Erdogan said he expected the prototype of first domestically-produced car would be ready in 2019 and sales would start in 2021.

"I want to own the first automobile, provided that I will pay for it," he said.