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Czech PM says Volkswagen to make large investment in Turkey

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German carmaker Volkswagen is making a large investment in Turkey, Czech Prime Minister Andrej Babis said on Tuesday, according to Reuters.

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

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 ($1.11 billion) 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.

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