Otokar has signed an official agreement to acquire a 96.77 percent stake in Romanian company Automecanica SA for approximately 85 million euros.
According to the statement released by Otokar, the agreement covers the acquisition of shares representing 96.77 percent of Automecanica SA’s capital. The transaction is expected to be completed following the necessary legal approvals.
With this strategic move, Otokar will establish a military vehicle production infrastructure within the European Union. The acquisition is considered an important step for the company’s long-term growth strategy in the European defense industry market.
In addition, Otokar has completed on-the-job training programs for workers and technical personnel in Mediaș, Romania. The production facility, located on a 140,000-square-meter site, will be capable of carrying out all production stages of COBRA II vehicles, from cutting and welding to painting and final assembly.
The facility has been equipped with a modern infrastructure in line with NATO standards. While the initial stages of production have already begun, the assembly line is planned to become operational as of June.
COBRA II Deliveries to Romania
Otokar had previously won the tender launched by the Romanian Ministry of National Defense for the supply of 4×4 tactical wheeled light armored vehicles.
As part of the project, the first COBRA II vehicles produced in Türkiye were delivered to Romania, and more than 270 vehicles entered service in the country in recent months.
Commenting on Otokar’s new phase in the European defense industry market, Otokar General Manager Aykut Özüner said:
“With this strategic step in line with our global growth targets, we are becoming a company that produces armored vehicles within the borders of the European Union. Our investment in Romania means much more than fulfilling our obligations under the contract.
We see that countries in the defense industry are increasingly prioritizing local production capabilities and technology acquisition. As Otokar, we aim to be not only a supplier for friendly and allied countries, but also a reliable partner that contributes to their engineering capabilities through local cooperation and technology transfer.
We believe that Otokar will serve the Romanian Armed Forces while also creating long-term value for the economies of both countries.”
Romania’s COBRA II Procurement Program
Otokar, the defense industry company of Koç Group, won the 4×4 Tactical Wheeled Light Armored Vehicle Project launched by Romtehnica, acting on behalf of the Romanian Ministry of National Defense.
The agreement, covering 1,059 COBRA II 4×4 armored vehicles, was signed in Romania on November 27, 2024. The contract value was announced as 857 million euros, excluding VAT.
Under the contract, the first 278 COBRA II vehicles will be produced at Otokar’s facilities in Türkiye. The remaining vehicles will be manufactured in Romania as part of the localization strategy.
Deliveries began in the final quarter of 2025 and are planned to be completed in batches within five years.
Otokar’s acquisition of Automecanica SA is expected to strengthen the company’s position in Europe and support the localized production process for Romania’s COBRA II program.
