Chinese EV maker BYD invests $1bn in Turkey for a manufacturing plant, targeting EU and local markets.

Chinese electric vehicle maker BYD plans to invest $1 billion in a manufacturing plant in Turkey. The deal, to be announced by Turkish President Recep Tayyip Erdogan, will provide BYD with easier access to the EU market and serve the domestic market in Turkey where electric vehicles accounted for 7.5% of car sales in 2020. The facility will be constructed in Manisa province, an area known for its strong automotive industry presence.

July 05, 2024
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