Iveco Bus agrees manufacturing contract with Otokar to build buses in Turkey
By Jim Gibbins - 1st March 2020
Italy / Turkey - Bus and coach builder, Iveco Bus of Lyon, France (a brand and subsidiary of CNH Industrial NV based in London, UK) has signed an agreement with Otokar Otomotiv ve Savunma Sanayi A.Ş (Otokar, a subsidiary of the Koc Group) for Otokar to manufacture buses and coaches under the Iveco Bus brand locally at its facilities in Sakarya, Turkey.
The agreement is for an initial five years (with an extension option for a further five years) for manufacturing all Iveco Bus models - depending on market developments, an estimated 5,000 units in total are expected to be built over the five year period. These vehicles will be produced in addition to those built by Iveco Bus at its three plants in mainland Europe. To manage this additional production there is to be a joint investment of some EUR26m.
