Chinese electric vehicle manufacturer BYD announces plans to commence production in Turkey
Date
10/2/2024 8:22:48 AM
(MENAFN) Chinese electric vehicle manufacturer BYD has announced plans to commence production in Turkey in 2026, according to Turkish Industry and Technology Minister Mehmet Fatih Kacir. Speaking during a visit to Anadolu headquarters in Ankara, Kacir confirmed that agreements have already been signed and that the allocation process for the manufacturing site at the Manisa Organized Industrial Zone (OSB) has been finalized. The necessary permit applications for the construction of the factory have also been submitted.
This significant development follows an agreement in July between BYD and the Turkish government, in which the company pledged to invest $1 billion to establish a factory and focus on research and development in Turkey. The new facility is projected to create approximately 5,000 jobs and produce around 150,000 vehicles annually, further solidifying Turkey's role in the growing electric vehicle market.
In addition to the partnership with BYD, Minister Kacir indicated that Turkey is in advanced discussions with another Chinese automaker, Chery, regarding automobile investments, suggesting a robust interest from Chinese companies in the Turkish automotive sector. Kacir emphasized the importance of showcasing Turkey's potential to other automotive brands to attract further investment.
Highlighting the advancements in Turkey's electric vehicle infrastructure, Kacir noted that Togg, the domestic electric car manufacturer, has already produced 37,000 vehicles in just 16 months. He pointed out that Togg's production volume in its first year surpasses that of the world's most valuable electric vehicle brand in its sixth year. Kacir also mentioned that fast-charging stations have been established in all 81 provinces, positioning Turkey as a leader in Europe regarding the number of charging units available per electric vehicle.
Overall, the entry of BYD into the Turkish market, coupled with the growth of domestic producers like Togg, reflects a burgeoning electric vehicle industry in Turkey. With supportive infrastructure and strategic international partnerships, the country is well on its way to becoming a significant player in the electric vehicle landscape.
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