The Stellantis group was formed in January 2021 by the merger of the French Groupe PSA and the Italian-American Fiat Chrysler Automobiles. With this partnership, the company became the owner of many successful brands around the world. TOFAŞ also got its share from this merger, as Fiat, one of the brands in the partnership, became a factory partnership with TOFAŞ. TOFAŞ acquired the Turkish rights of Stellantis.
New spare parts, service and distribution rights within TOFAŞ!
Koç Holding signed the agreement with Stellantis today. With the agreement, Stellantis Group aims to develop faster in the Turkish market. In addition, TOFAŞ, a subsidiary of Koç Holding, has acquired all the Turkish rights of Stellantis Otomotiv Pazarlama A.Ş.
With this acquisition, all the rights of the Stellantis Group brands that carry out commercial activities in Turkey also belong to TOFAŞ. In other words, TOFAŞ will carry out all the activities of brands such as Fiat, Citroen, DS Automobiles, Jeep, Maserati, Opel, Peugeot and Alfa Romeo. With this move, the company also announced that the production process of the game-changing sedan Egea has been extended until December 31, 2025.
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Carlos Tavares, CEO of Stellantis “Turkey plays a critical role in 2030 for our long-term strategic plan, Dare Forward, where we aim to have the leading market share in the Middle East.” said. Koç Holding CEO Levent Çakıroğlu said: This strategic investment, combined with TOFAŞ’s production volume, export performance and R&D capabilities, will carry the company to new heights in the automotive industry.” said.
With the agreement, a total of 400 million euros came out of TOFAŞ’s coffers. So what do you think about this issue? Do you think TOFAŞ can play much higher with this acquisition? Does this purchase also reflect on vehicle prices? We are waiting your comments!