BYD and Türkiye signed an agreement to invest 1 billion US dollars to set up factories

Chinese electric vehicle giant BYD will invest 1 billion in Turkey Turkey 1 billionThe US dollar (S $ 1.35 billion), a factory with an annual production capacity of 150,000 electric vehicles, is expected to be put into production in 2026.This will help BYD electric vehicles avoid the anti -subsidy tariffs on the EU.

Comprehensive Reuters and Agence France -Presse reported that under the witness of Turkish President Erdogan, BYD CEO Wang Chuanfu and Turkish Minister of Industry and Technical Minister Mehmet Fatih Kacir (7) (7)On the 8th), the signing ceremony was held in Istanbul.

Cassir uploaded a scene photo of the signing ceremony on the social media X on the same day.He wrote: "We imagine that BYD will establish an electric and charged hybrid vehicle production facilities in my country, with an annual output of 150,000 units, and establishes a mobile technology research and development center with an investment of about 1 billion US dollars."

Cassir said that the factory is expected to be put into production by the end of 2026 and can provide 5,000 jobs.

He also said that, given that Turkey's tariffs with the EU, this cooperation may help investors including BYD enter the European market.

The Turkish and EU's tariff alliance relations began in 1995.Under this relationship, cars made by Turkey entered the European Union to enjoy preferential tariffs. The Malmala region around Istanbul has become one of the main centers of the world's automotive industry.

In the 1970s, car manufacturers, including Fiat and Renault, opened factories in Turkey. Other automakers such as Ford, Toyota, and Hyundai also used Turkey to use Turkey in Europe, Asia, and the Middle East.The advantage of the crossroads is settled locally.

Yeni Safak, the pro -government's Turkish newspaper, said that the land assigned to Volkswagen in the western city of Manisa in the north of the western city will be transferredGive BYD.

Agence France -Presse reported that BYD's settlement in Turkey will help BYD avoid the EU's temporary anti -subsidy tariffs on its addition.The European Union imposed a temporary tariff of up to 37.6%of the Chinese electric vehicles, of which BYD was 17.4%. It will take effect from last Friday (July 5) and will be implemented for nearly four months.

In addition, ZaFer Sirakya, vice chairman of the Turkish ruling party, revealed to Reuters last week that Guangzhou Automobile Group is setting up a joint venture with the Turkish Automobile United Holding Group (TOGG)The possibility is negotiated.