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Volkswagen, Dogus Otomotiv sign letter of intent to explore car production in Turkey

By Reuters News

Oct 30 (Reuters) - Dogus Otomotiv DOAS.IS has signed a letter of intent with Volkswagen VOWG.DE group companies to explore options for producing Volkswagen brand passenger cars in Turkey, the automotive distributor said in a statement on Friday.

  • Volkswagen had abandoned plans for a factory in Turkey in 2020, citing the COVID-19 pandemic and global economic developments

  • The partnership aims to offer value-added products suited to new technologies in the Turkish market and contribute to growth in the Turkish auto industry, Dogus said

  • A serious passenger car production partnership could have a significant long-term impact on Dogus, Ata Yatirim analyst Cemal Demirtas said

  • Shares of Dogus Otomotiv rose 10% in morning trade, on track for their biggest one-day jump since May 2025

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