Chinese automaker BYD agrees to build plant in Turkey
The world’s largest manufacturer of electric cars, China’s BYD, has agreed to build a plant in Turkey with a capacity of 150,000 electric cars and hybrids per year, according to Turkish Industry and Technology Minister Mehmet Kacir. RIA News.
As part of the project, the Chinese company will invest about a billion dollars in the republic. It is expected that the enterprise will employ about five thousand people. The company intends to launch operations in 2026.
The head of the department recalled that Turkey ranks third in Europe in car production, with exports exceeding $35 billion. The agreement with BYD will allow the transition to the production of environmentally friendly types of transport.
Turkey began selling its first electric car a year ago. The Togg comes in both sedan and SUV versions. In March of that year, Ankara imposed a 40 percent duty on Chinese electric cars.
Earlier, Bloomberg, which announced the deal last week, noted that the plant in Turkey will allow the Chinese giant to simplify access to the premium European market.
BYD surpassed American company Tesla in the number of cars sold for the first time in the fourth quarter of last year. At the same time, the Chinese manufacturer produces a comparable number of hybrid models.
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