Recently, the notable car manufacturer BYD ended Volkswagen’s 15-year leadership in the Chinese market and became China’s best-selling car brand last year. BYD decided to open a factory in Turkey with a $1 billion investment. Signatures were signed for the factory, which will have an annual production capacity of 150,000 vehicles.
President Recep Tayyip Erdoğan, Minister of Industry and Technology Mehmet Fatih Kacır and BYD Chairman Wang Chuanfu attended the signing ceremony held at the Presidential Dolmabahçe Office. BYD’s choice of Turkey had a wide impact in the international press.
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- France 24:Chinese giant BYD will open a factory in Turkey. Following major brands such as Fiat and Renault, BYD’s choice of Turkey was considered an important step.
- Financial Times:BYD has accepted a $1 billion deal in Turkey. The factory, which is planned to start production by the end of 2026, is expected to provide employment for approximately 5,000 people.
- Nikkei:Japanese newspaper Nikkei announced that BYD has chosen Turkey as its 2nd export center in Europe. It was emphasized that Turkey is a production and export base for global brands.
- BBC:The BBC reported that BYD, which is considered a rival of Tesla, signed a $1 billion deal with Turkey, and that the Turkish government has imposed additional taxes on Chinese vehicles in order to support domestic manufacturers.
- SCMP:Hong Kong-based South China Morning Post reported that BYD chose Turkey to expand into Europe. It was emphasized that the factory, which will be established with an investment of $1 billion, will facilitate BYD’s access to the European market.
