BYD partners with Forvia to supply new $1B factory in Turkey, set to produce 150K vehicles annually and create 5K jobs.

BYD, a Chinese electric vehicle manufacturer, has partnered with French parts supplier Forvia to supply its new $1 billion factory in Turkey, set to begin production in late 2026. The factory will produce 150,000 vehicles annually and create 5,000 jobs. Forvia's shares rose nearly 10% following this deal and additional contracts with other Chinese automakers, aimed at mitigating declining domestic auto demand.

October 21, 2024
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