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By Trend

The Turkish "Zorlu Holding" company, together with four other companies which are members of the consortium for development of a domestic Turkish car, have presented the first prototypes of the vehicle, the Turkish media reported Oct. 11.

It is reported that the prototype has been developed together with the "Vestel Elektronik" company and is entitled as "VEO".

Earlier, the Minister of Science, Industry and Technology of Turkey Faruk Ozlu said Turkey will invest $3 billion in creating domestic car.

Ozlu said work is currently underway to develop prototypes of five different models of the domestic car. The minister also noted that one of the cars will be equipped with an electric motor.

The prototypes of the domestic Turkish cars will be presented at the Geneva motor show, which will be held in 2019.

On November 2, 2017, President Recep Tayyip Erdogan announced the names of companies that will participate in the creation of the domestic car - Anadolu Grubu, BMC, Kıraca Holding, Turkcell and Zorlu Holding.

Erdogan stressed that the creation of a domestic car will strengthen the economy of Turkey. The president also said that Turkey will export domestic cars to neighboring countries.

The cars developed in Turkey will be manufactured with different types of body and engines.

The purchase of a domestic car in Turkey will be exempt from special consumer tax.

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