Car manufacturer BYD from China wants factory in Turkey
The Chinese electric vehicle manufacturer BYD is expanding and appears to be preparing for the opening of a factory in Turkey, according to reports from Turkish government circles to the French news agency AFP. The project was publicly announced by Turkish President Recep Tayyip Erdogan, but no specific date for this announcement has been mentioned.
According to Turkish media reports, the agreement would involve investments of one billion dollars (around 0.9 billion Euros). BYD, the world's largest manufacturer of electric cars, opened a factory in Thailand last week, and there are plans for locations in Hungary and Brazil.
The European Union recently imposed additional provisional tariffs on Chinese electric vehicles. The background to this decision are allegations that Chinese manufacturers profit from extensive subsidies and this comes at the expense of European manufacturers. However, cars produced in Turkey enjoy improved access to the European market due to a customs union dating back to 1995.
- It's rumored within government circles in Turkey that the Chinese car manufacturer BYD is not only expanding but also planning to establish a factory in the country.
- Byd, the Chinese car manufacturer known for being the world's largest electric vehicle producer, is not limiting its expansion to Turkey; they previously opened a factory in Thailand and have plans for factories in Hungary and Brazil as well.
- The Chinese car manufacturer BYD, set to launch a factory in Turkey, might find favorable conditions in the European market due to Turkey's long-standing customs union with the EU, which enhances the access of cars produced in Turkey.
