Volkswagen has established a subsidiary in Turkey's western Manisa province...
FILE PHOTO: A new logo of German carmaker Volkswagen at the VW headquarters in Wolfsburg, Germany September 9, 2019. REUTERS/Fabian Bimmer/File Photo
The Turkey unit will have 943.5 million lira capital and the parent company had paid a quarter of that amount, the gazette said. The remainder will be paid in the next two years. VW had been looking into a possible new plant in eastern Europe, with Bulgaria known to be among countries considered along with Turkey.
A spokesman for VW told Reuters on Wednesday that the company was still in the final stages of negotiation and that it had not made a final decision on the factory.
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