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Turkish automotive parts manufacturers are expanding across the world with $2 billion worth of international acquisitions in the last two years. Sub-industry companies in Turkey that manufacture parts for some of the world’s biggest automotive firms showed a considerable hike in their foreign investments and acquisitions particularly after the global economic crisis, with the sub-industries pulling in more than one third of total automotive exports.
Turkish companies will see almost 50 automotive plants expand in five continents and around 25 countries, including the United States, Russia, Brazil, India and Mexico, according to data from the Association of Automotive Parts and Components Manufacturers (TAYSAD). However, there could be more investments with similar numbers that have not been reported to TAYSAD, Hurriyet Daily News report.
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