Tofaş signs manufacturing deal with Stellantis
ISTANBUL
Tofaş Türk Otomobil Fabrikası A.Ş. has signed a manufacturing agreement with Stellantis Europe S.P.A. for the production and distribution of a new light commercial vehicle model in Türkiye.
The agreement covers the “K9” model and its “Combi” variants, which will be produced on multi-energy platforms under Stellantis brands including FIAT, Opel, Citroën and Peugeot, Tofaş said in a filing with Borsa Istanbul.
Production is scheduled to begin in the third quarter of 2026, with an annual capacity of 150,000 vehicles, including completely knocked down (CKD) units.
The total investment for the project is estimated at 256 million euros.
By the end of 2034, Tofaş plans to manufacture approximately 660,000 vehicles, excluding CKD units, with around 80 percent intended for the domestic market.
In 2024, sales to Stellantis accounted for 16 percent of Tofaş’s total revenue, while purchases from Stellantis represented 48 percent of its cost of goods sold. As of June 30, 2025, Stellantis made up 24 percent of Tofaş’s trade receivables and 30 percent of its trade payables.
