Market Chatter: Turkish Carmaker to Ink Deal with China's SAIC Motor for Turkish Plant

MT Newswires Live06-11

Turkey's Dogan Trend Otomotiv is expected to sign a deal with China's SAIC Motor (SHA:600104) for a plant in Turkey to build combustion and hybrid-engined cars, Reuters reported, citing CEO Kagan Dagtekin.

The deal comes as Turkey is applying a 40% additional tariff on vehicle imports from China, Reuters added. According to data from Turkey's Automotive Distributors' and Mobility Association, 8% of vehicles in Turkey are from China.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (RMB): Â¥13.95, Change: Â¥-0.16, Percent Change: -1.13%

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