Automotive

Otokar signs $1.47B deal to export wheeled armored vehicles

Turkish automotive and defense manufacturer Otokar announced Thursday that it signed a $1.47 billion contract to export wheeled armored vehicles and provide integrated logistics support, with the agreement set to take effect upon completion of official approvals and receipt of advance payment, according to a disclosure filed with Türkiye's Public Disclosure Platform.

Volkswagen recalls 208,000 vehicles in US over steering defect

German automaker Volkswagen is recalling 208,724 vehicles in the United States due to a steering system defect that could result in a loss of vehicle control, the National Highway Traffic Safety Administration said, noting that authorized dealers will replace the faulty component free of charge.