According to the amendment on government support for investments published in Turkey's Official Gazette, automotive production investments of at least TRY 300 million ($170 million) will benefit from ‘fifth region' status which offers the highest incentives.
Additionally, investments of at least TRY 75 million ($42.4 million) related to automotive engines and investments of at least TRY 20 million ($11.3 million) related to engine components and automotive electronics will also benefit from the same incentives.
Automotive industry investments which previously fell under the scope of first and second region incentives are expected to increase after the latest amendments. Turkey's economy minister Zafer Caglayan said that the automotive industry has promised to make investments totaling TRY 12.3 billion ($7 billion).
