China’s BYD to Build $1 Billion EV Plant in Turkey

On July 8, 2024, BYD signed an agreement with the Turkish Industry and Technology Ministry to establish a new manufacturing plant in Turkiye. The signing ceremony was held in Istanbul and attended by Turkish President Recep Tayyip Erdogan, Industry and Technology Minister Mehmet Fatih Kacir and BYD chairman and CEO Wang Chuanfu. The new plant will be located in Turkiye with a planned investment of $1 billion.