Volkswagen, Dogus Otomotiv sign letter of intent to explore car production in Turkey

Oct 30 (Reuters) - Dogus Otomotiv has signed a letter of intent with Volkswagen group companies to explore options for producing Volkswagen brand passenger cars in Turkey, the automotive distributor said in a statement on Friday.

• Volkswagen had abandoned plans for a factory in Turkey in 2020, citing the COVID-19 pandemic and global economic developments

• The partnership aims to offer value-added products suited to new technologies in the Turkish market and contribute to growth in the Turkish auto industry, Dogus said

• A serious passenger car production partnership could have a significant long-term impact on Dogus, Ata Yatirim analyst Cemal Demirtas said

• Shares of Dogus Otomotiv rose 10% in morning trade, on track for their biggest one-day jump since May 2025

(Reporting by Canan Sevgili in Gdansk, editing by Milla Nissi-Prussak)