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China’s BYD to build $1B plant in Turkey

Women's Tabloid News Desk
Women's Tabloid News Desk

The Chinese electric vehicle maker BYD had a deal with the Turkish government to establish a $1-billion production plant in Turkey which will have the capacity of making 150,000 vehicles annually as reported by Anadolu news agency.

Anadolu published pictures of Turkish President Tayyip Erdogan meeting with the Chief of BYD Wang Chuanfu  at the deal signing ceremony. The deal is said to state that the plant will also have a mobility and R&D centre and employ 5,000 people.

This comes after the European Union raised the tariff of EVs in order to protect the industry. Without mentioning Turkey, China’s state-run Securities Times earlier claimed that BYD had committed to building a facility for new energy vehicle core parts to support the capacity of its manufacturing in the southern city of Shenzhen.

GAC’s top management plans to visit TOGG in Turkey this month, the AK Party’s Zafer Sirakaya said.

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