Tofas rises after manufacturing agreement with Stellantis Europe

Tofas Turk Otomobil Fabrikasi

09/09/2025 08:18

** Shares in Turkey's Tofas TOASO.IS rise around 3% after the Turkish automaker signed manufacturing agreement with Stellantis Europe

** Tofas said it signs manufacturing agreement with Stellantis Europe SpA with an annual capacity of 150,000 units, involving an investment of up to 256 million euros  ($301.21 million)

** Manufacturing grants Tofas right to produce and distribute in Turkey "K9"'s light commercial vehicle and "Combi" versions in multi-energy platforms for Stellantis brands (Fiat, Opel, Citroën, Peugeot) and determining conditions regarding sale of vehicles and spare parts

** Brokerage Global Menkul Degerler says agreement will support the domestic market, boost exports, develop the local supply chain, and contribute to employment, strengthening Tofas's strategic position

**  "We regard the news positively" Global Menkul Degerler adds

**  The stock is among best performers on BIST-100 index .XU100, which is up 0.24%

($1 = 0.8499 euros)

 (Reporting by Canan Sevgili)

 ((canan.sevgili@thomsonreuters.com))