Turkey has awarded a multibillion-dollar contract to domestic company British Motor Corporation (BMC) to mass-produce the Altay tank and develop the tank's engine. The Undersecretariat for Defense Industries, or SSM, said it is now negotiating with the firm, owned by Turkish businessman Ethem Sancak, who is known to be close to President Recep Tayyip Erdogan. Sancak is also a member of the ruling Justice and Development Party's executive council.

Two other companies were interested in the tender for Altay tank, which is actually an improved version of South Korea's K2 Black Panther tank. 

The first primary contractor candidate for the Altay project, initiated in 2007, was Koc Holding’s Otokar, but the SSM said it rejected that proposal in 2017 because of reservations about Otokar's engine. There were allegations, however, that Koc Holding wasn't chosen because of the company’s anti-government stance during 2013 protests. When news broke that BMC had been awarded the tender for the Altay, Otokar’s stock lost 6% of its value; it had spent about $500 million to develop the project.

The other company in the running was FSNN, a joint venture owned by Turkey's Nurol Holding and London-based BAE Systems.