BYD to Build Electric Vehicle Factory in Türkiye

BYD to Build Electric Vehicle Factory in Türkiye

China's BYD, the world’s largest electric vehicle (EV) manufacturer, has announced plans to establish a production facility in Türkiye. The factory will be situated in the northwest province of Kocaeli and is expected to significantly boost the local economy while bolstering BYD's global market presence.

BYD's initiative aims to produce a wide range of EVs, including passenger cars, commercial vehicles, and batteries. The project is set to commence with an investment of $1 billion, creating approximately 2,500 jobs in the region. The facility is projected to have an annual production capacity of 150,000 units, catering to both domestic and international markets.

Wang Chuanfu, Chairman and President of BYD, emphasized the strategic importance of this investment, citing Türkiye’s advantageous geographical position and growing demand for sustainable transportation solutions. "Our decision to invest in Türkiye aligns with our global expansion strategy and commitment to green energy. We are confident that this new facility will enhance our production capabilities and market reach," said Wang.

Türkiye’s Minister of Industry and Technology, Mehmet Fatih Kacir, welcomed the investment, highlighting its potential to advance the country’s automotive industry and contribute to its economic development. "BYD's investment is a testament to Türkiye's attractive investment climate and its strategic role in the global automotive sector. We are committed to supporting such initiatives that foster technological advancement and job creation," Kacir stated.

Source: Dogruhaber Gazetesi