Etiqueta: Europe

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BYD has reached a deal with the Turkish government to build a $1 billion electric vehicle plant in the country, part of the European Union’s Customs

BYD's Turkish plant has a planned annual capacity of 150,000 vehicles, and the signing was witnessed by the Turkish president.

The factory will produce 150,000 electric and hybrid vehicles annually, part of a move that could bolster the Chinese automaker’s foothold in Europe

BYD, the world's largest electric car maker, has agreed to invest $1 billion to set up a manufacturing plant in Turkey, with a deal signed in Istanbul between Fatih Kacır Mehmet, Turkey's Minister of Industry and Technology, and BYD Chairman Wang Chuanfu in a ceremony attended by Turkey's President Recep Tayyip Erdogan. The Turkish state news agency Anadolu reported that the plant, which will start production by the end of 2026, would have capacity to produce up to 150,000 EVs a year.

BYD will set up $1bn EV plant in Turkey as per Turkish government officials. The official announcement will be made by the Turkish President.

The plant is expected to improve BYD’s “logistical efficiency” as it aims to reach European customers

BYD signed a deal to build a massive $1 billion EV plant in Turkey on Monday. The news comes after...

China's electric vehicle giant BYD on Monday signed an agreement with Turkey to open a plant in the country in a move that would help it dodge new EU tariffs.