After announcing the construction of a state-of-the-art production unit in Hungary, BYD revealed this Monday that it has signed an agreement with the Turkish government for the construction of a Chinese BYD electric vehicle factory for the opening of a factory in Turkish territory.
The agreement, now signed in Istanbul by the Turkish Minister of Industry and Technology, Fatih Kacir, in the presence of the President of Turkey, Recep Tayip Erdogan, in a ceremony that was broadcasted by the media, foresees an investment of one billion dollars (approximately €922 million) for the opening of a factory with a production capacity of “150,000 vehicles per year”, according to the ministry.
The location of the future factory was not indicated, but it is expected to be in the province of Manisa, in the western region of the country.
For observers, the installation of a BYD factory in Turkey will allow the automaker to access the European market, bypassing the tariffs imposed last week by the European Commission on Chinese electric vehicles.
