Etiqueta: Tariffs

BEV sales in Turkey exceeded 72,000 units last year

Chinese BYD that overtook Elon Musk's Tesla in the fourth quarter of 2023 to become the world's top seller of electric vehicles plans to build a $1 billion plant in Türkiye, according to media reports.

The new factory would improve BYD’s access to the European Union, because Turkey has a customs-union agreement with the bloc.

BYD is very serious about expanding into the international market, the latest Chinese manufacturer is rumored to have approached an agreement with the Turkish government to build a factory in the country.

The new factory would improve BYD’s access to the European Union, because Turkey has a customs-union agreement with the bloc.

New factory may offer BYD access to the EU market avoiding recently imposed tariffs

Prime Minister Srettha Thavisin called on BYD, China

As the EU implements increased tariffs on Chinese EVs, Beijing-backed automaker BYD is reportedly building a new $1 billion plant in Turkey.

Turkey will soon unveil an agreement with BYD Co. to construct a $1 billion plant in the west of the country, Turkish officials said, boosting the Chinese carmaker’s presence in Europe at a time of escalating trade tensions.

Chinese EV maker BYD is set to sign a $1 billion deal with Turkey for a manufacturing plant in Manisa province. President Recep Tayyip Erdogan will announce the agreement on Monday. The new facility aims to enhance BYD's access to the EU market.