BIST 100 Index Gained Value With The Leadership of Ford

BIST 100 index gained value with the leadership of Ford. The daily premium in Borsa Istanbul exceeded 1 percent.

Starting the day with 0.4 percent gain in value, the daily premium in Borsa Istanbul exceeded 1 percent after the news about Ford Otosan. In the statement made by Ford Otosan to the Public Disclosure Platform, it was informed that Ford Motor Company and Volkswagen AG agreed to jointly produce a 1-ton medium commercial vehicle within the framework of the cooperation plans that have been continuing since 2018. Within the framework of the agreement, Ford Otosan and Ford Motor Company signed a 1T Cargo Van Contract Manufacturing and Supply Agreement, Spare Parts Supply Agreement, Technology and Production License Framework Agreement and the Vehicle Program Product License Specifications Supplementary Agreement to realize this project. According to the aforementioned agreements, the diesel, rechargeable hybrid electric PHEV (Plug-In Hybrid) and full electric versions of the 1-ton medium commercial vehicle 'New Generation Ford Transit Custom' family within the scope of the project will be gradually carried out by Ford Otosan in Kocaeli Plants from the first half of 2023 and Most of them are planned to be produced for export. In addition, within the scope of the strategic partnership of Ford Motor Company and Volkswagen AG, Volkswagen AG's new generation 1-ton commercial vehicle model is aimed to be produced by Ford Otosan in Kocaeli plants. According to these plans, the company is expected to invest 1.4 billion Euros in the next 5 years, to establish a production capacity of 405 thousand units of medium commercial vehicles per year and produce for 11 years, in order to replace the existing 180 thousand vehicles of similar quality.   Ford Otosan Shares Increased Ali Koç, Deputy Chairman of the Board of Directors of Ford Otosan, in his speech at the Presidential Complex, said, "We will realize the biggest investment of the Turkish automotive industry to date, worth 2 billion Euros." "With our new investment, our Kocaeli plant will become Turkey’s first and only electric vehicle integrated production facility, including batteries." Following the statement, Ford Otosan shares increased daily by up to 9.2 percent.