BYD Announces Landmark USD 1 Billion EV Plant Investment in Türkiye

​The Turkish Ministry of Industry and Technology signed a USD 1 billion landmark investment agreement with China's BYD, the world's largest EV manufacturer, at an official ceremony held in the Presidential Working Office in Dolmabahçe, Istanbul.

The signing ceremony, held under the auspices of President Recep Tayyip Erdoğan, was attended by Industry and Technology Minister Mehmet Fatih Kacır, Investment Office President A. Burak Dağlıoğlu, BYD Company Limited CEO Wang Chuanfu, and BYD Company Limited Executive Vice President & BYD Americas CEO Ke Li.

As per the agreement, the Chinese carmaker will build an electric and plug-in hybrid car production facility with the capacity to manufacture 150,000 units annually, alongside a sustainable mobility and R&D center. The facility aims to create up to 5,000 direct jobs and is scheduled to commence production by the end of 2026.

Minister Kacır emphasized the strategic importance of this investment for Türkiye's industrial landscape, stating, "BYD's decision to establish a factory here is a testament to our robust industrial policies and commitment to fostering a business-friendly environment. This factory will play a crucial role in enhancing our manufacturing capabilities and creating high-value jobs."

Commenting on the investment agreement, Chuanfu said, "Thanks to Türkiye's unique advantages, such as its developing technology ecosystem, strong supplier base, extraordinary location, and qualified workforce, BYD's investment in this new production facility will further improve the brand's local production capabilities and logistics efficiency."

This strategic investment underscores Türkiye's burgeoning significance in the global automotive industry and its potential as a key hub for advanced technological production. The new factory is poised to enhance Türkiye's manufacturing industry by incorporating cutting-edge technologies, fostering innovation, facilitating know-how transfer, boosting local production capabilities, and creating a significant regional supply chain.

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investment;  China; Türkiye; BYD