OYAK

Renault Group, which has been operating in Turkey since 1968, has decided to establish a new company to enhance its investments in the country, according to a company statement released on Dec. 1.

Hakan Doğu, who is a member of Renault Group Corporate Management Committee, will lead Renault Group Otomotiv A.Ş. as the CEO, according to the statement.

Accounting for half of the top 10 companies, automotive firms have dominated Turkey's list of largest exporters, the Turkish Exporters Assembly (TİM) announced on Sept. 18.

Ford was named Turkey's largest exporter in 2020, followed by Toyota Engine Manufacturing Turkey and Oyak Renault.

Turkey's Ataer Holding is the most likely buyer of Britain's second largest steelmaker, British Steel, which went bankrupt in May this year, according to British media.

Oyak Renault, the Turkish enterprise of French car maker Renault, has announced that it will produce its new Megane Sedan model in Turkey. 

The company will invest 200 million euros in the production, Oyak Renault General Manager Tunç Başeğmez said at a Sept. 7 event in Bursa, the heart of car-manufacturing in Turkey. 

Production at French car giant Renault's factory in the Marmara province of Bursa returned to normal on March 2, a day after workers went on strike after their colleagues were laid off, a company official has told Reuters.

"Production returned to normal as of 8 a.m.," the official said.

Workers at the French car giant Renault's factory in the northwestern Turkish province of Bursa went on strike on March 1, after 10 of their colleagues were laid off. 

Some 150 workers at Oyak Renault, a joint venture between Renault and the Turkish army pension fund Oyak, arrived at the factory on the morning on March 1 but did not start working.

French car giant Renault said on May 27 that a labor dispute over wages and working conditions, which halted operations at its factory in the northwestern province of Bursa, has ended following an agreement with the protesters.     

The Turkish unit of Ford Motor has suspended operations at one of its plants, after a week-long labor dispute flared up again just days after the company resumed production at another plant in Turkey.

The Turkish arm of French carmaker Renault on May 23 offered concessions including a cash lump sum to striking workers if they return to work, but the workers have rejected the offer and announced that they will continue their labor action.

Renault could reconsider investment in Turkey after a labor dispute has stopped production at its Turkish joint venture Oyak Renault, the French car maker's head of Eurasia said on May 21, as quoted by Reuters.