Investment agreement signed with BYD
An investment agreement was signed between Chinese electric vehicle manufacturer BYD and the Ministry of Industry and Technology. According to the statement made by the Ministry, within the framework of the agreement, BYD is expected to establish an electric and rechargeable hybrid car production facility with an annual capacity of 150 thousand vehicles and an R&D center for sustainable mobility technologies with an investment of approximately 1 billion dollars in Turkey.
Under the auspices of President Recep Tayyip Erdoğan, Minister of Industry and Technology Mehmet Fatih Kacır and BYD Chairman Wang Chuanfu signed the agreement with the Chinese automotive giant at the Presidential Dolmabahçe Working Office.
According to the statement made by the Ministry, within the framework of the agreement, BYD is expected to establish an electric and rechargeable hybrid car production facility with an annual capacity of 150 thousand vehicles and an R&D center for sustainable mobility technologies with an investment of approximately 1 billion dollars in Turkey.
Up to 5 thousand people are planned to be directly employed in the facility, which is targeted to start production at the end of 2026.
“Thanks to Turkey’s unique advantages such as its thriving technology ecosystem, strong supplier base, exceptional location and skilled workforce, BYD’s investment in this new production facility will further enhance the brand’s local production capabilities and increase logistics efficiency. We aim to reach consumers in Europe by meeting the growing demand for new energy vehicles in the region.”
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