Otokar will establish a new company in Romania to produce COBRA II ACV. This step was taken as part of the €857 million agreement signed with Romania.
Otokar will produce 1,059 COBRA II 4×4 tactical wheeled armoured vehicles under the agreement. The first 278 vehicles will be manufactured in Turkiye, while the remaining vehicles will be produced locally in Romania. This local production will be carried out by Otokar’s newly established subsidiary.
Otokar informed Public Disclosure Platform that the Company’s name will be OTOKAR LAND SYSTEMS SRL, and its capital will be 250,000 Romanian Leu. The statement at public disclosure reads, “Our Board of Directors decided to establish a company titled “OTOKAR LAND SYSTEMS SRL” in Bucharest, the capital of Romania, with a capital of 250,000 RON (Romanian Leu) in order to carry out our Company’s defence industry exports and local activities in Romania. It also has been decided that the entire capital will be committed by our Company to be paid in cash and the Company management will be authorized for the establishment transactions.”
