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Home » BYD Signs $1bn Deal for EV Plant in Turkey

BYD Signs $1bn Deal for EV Plant in Turkey

by Madaline Dunn

Chinese electric car manufacturer BYD has signed a $1bn deal to build a manufacturing plant in Turkey, it has been announced.

According to Turkish state news agency Anadolu, the facility will have the capacity to manufacture 150,000 vehicles.

Production is forecast to begin at the end of 2026 and will bring 5,000 jobs to the country, Anadolu Agency reported.

The deal for the EV plant was signed at a ceremony in Istanbul attended by President Recep Tayyip Erdogan.

This news is the latest in a series of expansion announcements from BYD, which has also shared its plans for Hungary, Mexico and Brazil.

Meanwhile, this week, the company opened an EV plant in Thailand, marking its first in Southeast Asia.

These announcements come against a backdrop of the EU raising tariffs on Chinese EVs, with new additional tariffs on individual manufacturers going up to 37.6 per cent. This is in addition to the existing 10 per cent duty already in place for foreign-made vehicles. Turkey also recently announced a 40 per cent additional tariff on vehicle imports from China.

Elsewhere, in the US, back in May, President Joe Biden announced a 100 per cent tariff on Chinese-made EVs.

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