The Ford Motor Company has a new joint venture with Koc Holding called Ford Otosan. That factory will be building two new vehicles at a new 753,000-sq.ft. $511 million plant near the venture's assembly plant in Yenikoy, just outside Istanbul. Those two new vehicles are the Ford Transit Courier (Ford's smallest commercial vehicle, and the Ford Tourneo Courier (an entry level passenger van.)
The two new models were actually developed by engineers in the venture's research and development center, which employs about 1,300 engineers. Including the new factory, Ford's Turkish JV has three plants selling vehicles in Turkey and more than 100 export markets. Exports from this joint venture account for about two-thirds of its $6 billion in annual revenues.
In addition to the two new vehicles that the venture produces, it also builds the Ford Transit and Transit Custom, and the Tourneo Custom people-mover. The plant currently has a production capacity of 110,000 vehicles annually.
“Ford Otosan is one of the longest-lasting and most successful joint ventures in the global auto industry and today marks another great milestone in this partnership,” Ford executive chairman Bill Ford said in a statement.
“This new plant is a testament to the drive and commitment of the men and women of Ford Otosan, and our success will continue to grow as we move forward together.”