China’s largest electric vehicle manufacturer BYD’s plan to open a factory in Turkey with an investment of 1 billion dollars has received widespread attention in the world press. This major investment move has attracted attention in parallel with the tax pressures imposed on Chinese electric vehicle manufacturers in Europe and the US.
World press talks about BYD’s Turkey factory investment
As you know, BYD has announced plans to build a plant in Turkey with an annual production capacity of 150,000 vehicles. The new plant is expected to start production by the end of 2026 and will employ around 5,000 people. This major investment was announced at an event in Istanbul with the participation of President Recep Tayyip Erdoğan and BYD CEO Wang Chuanfu.
Major news agencies, such as the BBC, have also covered the investment, as Chinese electric vehicle manufacturers are facing increased tariffs in the European Union and the United States. Last week, the EU imposed additional duties on electric vehicles imported from China to protect the motor industry. This decision led to BYD being hit with an additional tariff of 17.4% on vehicles exported from China to the EU.
Turkey’s strategic position
As Turkey is part of the EU Customs Union, vehicles produced in the country can be exempted from these additional tariffs when exported to the EU. Our government has also taken steps to support local automakers by imposing a 40% tariff on vehicles imported from China. This strategic location is an important factor for BYD to choose Turkey as a production center.
BYD’s global expansion strategy
BYD has recently been rapidly expanding its production facilities outside China. At the end of last year, the company announced that it will build a production facility in EU member Hungary. This will be the company’s first passenger car factory in Europe and is expected to create thousands of jobs. Also last Thursday, BYD opened its first factory in Southeast Asia in Thailand. This plant is expected to have an annual capacity of 150,000 vehicles and employ 10,000 people.
BYD is backed by US investor Warren Buffett, a key factor contributing to the company’s global expansion. The company has also announced plans to build a production facility in Mexico.
In short, BYD’s decision to open a plant in Turkey with an investment of 1 billion dollars has been widely reported in the world press and shows that Turkey is on its way to becoming a major player in global semiconductor and electric vehicle production.
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