Turkey's Ford Otosan shares extend gains after investment

Ford Otomotiv Sanayi AS

17/03/2021 07:44

ISTANBUL, March 17 (Reuters) - Shares in Ford Otosan
 FROTO.IS , the Turkish joint venture of Ford Motor Co  F.N ,
jumped 10% on Wednesday and extended gains from a day earlier
when it announced a 1.39 billion euro ($1.65 billion) investment
over the next five years.
    The stock traded at 229.20 lira in Istanbul at 0738 GMT.
    Ford said the next version of its Transit van for the
European market will go into production in Turkey in 2023 and
include fully electric and hybrid variants along with the
combustion-engined version.  urn:newsml:reuters.com:*:nL1N2LE0PU
    Ford Otosan, jointly owned by the No. 2 U.S. automaker and
Turkey's largest conglomerate Koc Holding  KCHOL.IS , will also
make a one-tonne commercial vehicle for Volkswagen AG
 VOWG_p.DE  as part of an alliance between Ford and the German
carmaker.
($1 = 0.8406 euros)

 (Reporting by Berna Syuleymanoglu;
Writing by Daren Butler;
Editing by Jonathan Spicer)
 ((daren.butler@tr.com; +90-212-350 7053; Reuters Messaging:
daren.butler.thomsonreuters.com@reuters.net))