BYD, the hugest electric vehicle manufacturer, is further prolonging its global production network by getting into the Turkish market. On July 8, BYD signd on a noteworthy agreement with Turkey’s Ministry of Industry and Technology to establish a new manufacturing facility in Turkey.
On monday, during a ceremonial event, President Recep Tayyip Erdogan, Industry and Technology Minister Mehmet Fatih Kacir, and BYD’s Chairman and CEO Wang Chuanfu witnessed the formalization of the contract. Besides the ceremony, President Erdogan also occupied with a delegation from BYD in Istanbul.
This new move comprises an investment approximated at US$ 1 billion (approximately Rs 8,330 crore) and icorporates the construction of the BYD Turkey plant, which will boast an annual production capacity of 150,000 electric vehicles. Moreover, the site will attribute a research and development centre as well as a mobility centre. Manufacturing at this provision is expected to begin by the end of 2026, providing 5,000 jobs provincially.
This statement comes immediately after the company performed the foundation of its Thailand plant in Rayong and the manufacturing of its eight-millionth new energy vehicle on 4th July, revealing a fast expansion in its worldwide operations. The Rayong plant reflects the new Turkish provision with a similar manufacturing efficiency.
