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China's BYD, world's biggest EV maker, invests $1B in Turkish plant
In a post on the social media platform X on Monday, Turkey’s Vice President Cevdet Yilmaz confirmed that BYD is expected to begin production of vehicles in the new factory at the end of 2026 and that the facility will provide around 5,000 direct jobs.
In a post on the social media platform X on Monday, Turkey’s Vice President Cevdet Yilmaz confirmed that BYD is expected to begin production of vehicles in the new factory at the end of 2026 and that the facility will provide around 5,000 direct jobs. The Chinese firm has run into a few recent challenges amid increasing scrutiny of China-made EVs in the European Union and the United States as global trade wars intensify. Separately, Italian automaker SWM Motor, owned by Chinese automotive giant Shineray Group, has applied to build a factory in Turkey, the state news agency Anadolu reported Monday.
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