China EV maker BYD to build $1 billion plant in Türkiye
Chinese electric vehicle manufacturer BYD Co Ltd agreed with the Turkish government to build a $1 billion production plant in Türkiye with an annual capacity of 150,000 vehicles.
China EV maker BYD to build $1 billion plant in Türkiye
The Economics of Geography

China EV maker BYD to build $1 billion plant in Türkiye

Photo: Pedro Pardo/AFP
Eurasia 09/07/2024 14:47

Chinese electric vehicle manufacturer BYD Co Ltd agreed with the Turkish government to build a $1 billion production plant in Türkiye with an annual capacity of 150,000 vehicles.

Turkish Minister of Industry and Technology Mehmet Fatih Kacir posted pictures on social media platform X of Turkish President Recep Tayyip Erdoğan meeting BYD Chief Executive Wang Chuanfu at a deal-signing ceremony for the plant, Euractiv reported.

“We envisage that BYD will establish an electric and rechargeable hybrid car production facility with an annual capacity of 150,000 vehicles and an R&D center for mobility technologies in our country, with an investment of approximately 1 billion dollars,” Kacir said.

“The facility, which is planned to start production at the end of 2026, will directly employ up to 5,000 people.”

#BYD #China #Türkiye
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