Chinese electric car company BYD takes on Europe with $1bn deal
After strict European tarrifs on Chinese electric cars, BYD takes on the EU with a helping hand from Turkey
Words: Charlie Bentley
China's leading electric car manufacturer, BYD, is embarking on a significant adventure, and Turkey is the latest chapter in their global expansion story. They've sealed a $1 billion deal to establish a state-of-the-art manufacturing plant in the country, marking another milestone in their quest to conquer international markets.
BYD’s CEO, Wang Chuanfu, and Turkey’s Industry and Technology Minister, Mehmet Fatih Kacır, signed the agreement in Istanbul, with Turkish President Recep Tayyip Erdogan cheering them on. This deal isn’t just about building cars; it’s about driving innovation and creating around 5,000 new jobs, all while producing up to 150,000 vehicles annually by the end of 2026. For Turkey and China, this will provide a huge economic opportunity.
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